Developer Spotlight: Marcel Ventosa
- Mekarcube Construction
- Nov 19
- 3 min read
Updated: 3 hours ago
Shaping the Future of Phnom Penh: An Exclusive Talk with Mr Marcel Ventosa CEO of Chenla Agathos Solutions
Phnom Penh is entering a pivotal decade. One defined not only by new infrastructure, such as the city shifting Techo International Airport, but also by rising expectations from buyers, investors, and tenants. As the market matures, the question is no longer simply how much the city will grow, but how it should grow. For this feature, we sat down with Marcel Ventosa, CEO of Chenla Agathos Solutions, to explore where Phnom Penh is headed and what it will take to build for long-term value. His insights offer a grounded, expert view into the opportunities and responsibilities that come with shaping Cambodia’s next urban chapter.
A Decade Ahead: What Will Phnom Penh Become?
Marcel Ventosa cautions that predicting any city’s trajectory involves uncertainty. Still, he identifies several clear signals guiding Phnom Penh’s evolution:
“Predicting a city’s future is always risky, but certain trajectories are visible. Phnom Penh’s market is in a consolidation phase and will likely stabilize over the next cycle.”
According to him, the next wave of growth will not be defined by rapid expansion alone, but by quality, connectivity, and long-term value creation. This shift is most evident along new infrastructure zones including corridors connecting to Techo International Airport, where improved access, logistics potential, and mixed-use development are expected to attract strategic investment. Rather than a race for quantity, Marcel Ventosa sees the city moving toward fewer, better-built projects — developments that prioritize comfort, reliability, and professional management.
“The real opportunity lies not in volume but in raising standards. Premium will mean fewer projects, built better.”
This aligns with regional trends where maturing markets transition from speculative growth to value-preserving development models.
Profitability Meets Sustainability: The New Operational Performance
Across Asia, sustainability is shifting from a nice-to-have to a core operational strategy, and Cambodia is no exception. Marcel Ventosa highlights the industry’s evolving understanding of long-term building performance:
“Sustainability is becoming operational performance. Upfront investment is increasingly justified by lower OPEX, faster payback, and stronger market appeal.”
For Cambodia’s climate and usage patterns, he emphasizes starting from fundamentals:
Passive design: optimizing building orientation, shading, and insulation
Efficient systems: MEP optimization, metering, commissioning
Ongoing tuning: soft-landing and periodic re-commissioning
These measures enhance comfort, durability, and operational efficiency, protecting Net Operating Income and overall asset value. Certifications, Marcel Ventosa notes, are only valuable if they reflect measurable outcomes, not just labels:
“Certifications matter when they validate measurable savings and long-term resilience.”
Navigating Key Challenges
Despite the sector’s positive trajectory, Marcel Ventosa points out several persistent challenges that shape project outcomes across residential, hospitality, and technology-driven developments.
Capital Access & Cost of Finance – Raising funds and managing financing costs remain major constraints.
Regulatory Ambiguity – Evolving or unclear guidelines can add risk, particularly for multi-phase projects.
Systems Integration Gaps – Coordination issues across MEP, IT, and building controls can compromise quality and lifecycle performance.
Supply Volatility & Technical Capacity – Fluctuations in material supply and uneven workforce capability affect schedules and workmanship.
These challenges reinforce the importance of process discipline and realistic planning.
Why Early Partnerships Define Project Success
Marcel Ventosa emphasizes the value of early engagement:
“Early collaboration enables target-value design, fixes critical interfaces, and aligns procurement from the outset.”
When project managers, cost consultants, and construction teams work together from the start, they can:
Align design to cost and value objectives
Resolve technical interfaces before construction
Optimize procurement for quality and efficiency
Smooth commissioning processes
Improve lifecycle performance and reduce risk
In a maturing market, early alignment becomes essential for high-performing projects.
A City on the Cusp of Opportunity
With major infrastructure investments, most notably Techo International Airport — Phnom Penh is entering a transformative period. Marcel Ventosa stresses that the future will reward developers who prioritize thoughtful, resilient, and sustainable approaches, rather than speed or volume alone.
“Build smarter. Build responsibly. Build for the Phnom Penh of tomorrow.”
Marcel Ventosa's Insights
References & Sources Market & Infrastructure Context
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