Time Square 11 BKK3 Review: Megakim Condo Tower 2026
Time Square 11 by Megakim in BKK3 Phnom Penh: pricing, 40-month payment plan, the BKK3 tenant market, realistic yield, developer track record and risks.
By Invest Cambodia Editorial · Updated June 28, 2026 · 12 min read
Quick answer: Time Square 11 is a Megakim World Corp entry condominium in the BKK3 district of Phnom Penh, part of the Time Square series built by Grade-A contractor Haspo Group, broadly in the roughly $40,000 to $50,000 range on a 20% down, roughly 40-month payment plan. Its case is location-led: BKK3 has real central tenant demand, but also the heaviest concentration of affordable supply. Verify the foreign quota, contractor, construction stage and a realistic net yield before any deposit.
Invest Cambodia Editorial reviews projects so foreign buyers can weigh location, price, developer and risk before any money moves. This is an independent review of Time Square 11: where it sits in BKK3, what the district means for tenant demand, how the Megakim payment plan and contractor stack up, and the diligence an entry-tier off-plan purchase still demands.
For wider context read cambodia-property-investment-guide-2026, can-foreigners-buy-property-cambodia, off-plan-property-cambodia-guide, and phnom-penh-rental-yield-guide. The 2026 backdrop is roughly 76,000 to 80,000 Phnom Penh condo units, 3% to 4% annual absorption, an 8.9% banking NPL ratio, and foreign buyer share led by Poland, Russia and France per realestate.com.kh.
What is Time Square 11 and who builds it?
Time Square 11 is an affordable condominium in Megakim World Corp’s Time Square series, built with Grade-A contractor Haspo Group and located in the BKK3 district of central Phnom Penh. It targets the entry tier of the foreign-buyer market with small units, instalment plans and a central address rather than premium positioning.
What sets Time Square 11 apart from its siblings is less the building and more the location. Megakim concentrates much of its affordable supply in and around BKK3, and Time Square 11 is one of the towers that defines that cluster. The developer competes on low ticket sizes and payment plans, and the Time Square brand runs across several buildings, including time-square-ocean-view and the slightly higher-specified square-castle. The full developer profile, contractor record and series map are in megakim-world-corp. As with every tower in the line, judge Time Square 11 as its own building, on its own price list, contractor documents and construction stage, because a strong series brand does not certify any single building, and here the location does as much of the selling as the developer.
How does foreign ownership work at Time Square 11?
Foreigners can own a Time Square 11 unit on the standard Cambodia basis: strata co-ownership above the ground floor, within the 70% foreign quota per building. Cambodian land and ground-floor commercial space stay off-limits, so the legal route is the strata title, not freehold land.
BKK3’s popularity with foreign buyers makes the quota especially worth checking here. A central, well-known cluster draws a wide international pool, so the 70% foreign allocation can fill faster in a Time Square 11 than in a peripheral tower. A near-full quota limits what you can buy now and narrows your future resale audience toward Cambodian purchasers once the ceiling is reached. Ask for the building’s official foreign quota ledger in writing rather than accepting a verbal “nearly full” claim. The ownership framework is in can-foreigners-buy-property-cambodia and the strata-title mechanics in foreign-ownership-strata-title-cambodia.
What is the BKK3 tenant market really like?
BKK3 is a dense, central residential and commercial district directly beside BKK1, the embassy and office core. It carries genuine tenant demand from young professionals, value-conscious expats and students, which is the single strongest argument for an entry unit in Time Square 11, and also where the most affordable supply competes hardest.
| BKK3 factor | What it means for Time Square 11 |
|---|---|
| Central, walkable location | Steady professional and expat tenant interest |
| Next to BKK1 offices and embassies | Spillover demand from a higher-rent district |
| Dense cafe, school and service base | Lifestyle appeal that supports letting |
| Heavy affordable condo supply | Caps rent growth and lengthens voids when supply spikes |
| Price-sensitive tenant pool | Net yield depends on management and pricing discipline |
Location is the whole investment thesis for Time Square 11, so it deserves an honest reading on both sides. BKK3’s centrality is a real asset: tenants want to be close to where they work and socialise, and the district delivers that at a rent below BKK1. The counterweight is that everyone selling an affordable Phnom Penh tower knows BKK3’s appeal, so the cluster is crowded, and crowded supply competing for the same price-sensitive tenants is what caps rent growth and stretches void periods. The clearest way to size this up is the side-by-side in bkk1-vs-bkk3-investment and the district deep-dive in bkk3-phnom-penh.
What does Time Square 11 cost, including the full budget?
Time Square 11 is entry-tier Megakim stock, broadly in line with the roughly $40,000 to $50,000 of its Time Square siblings and at or near the $1,800 per sqm Phnom Penh average. The headline buys a small unit, so the per-square-metre figure and the total acquisition cost matter more than the sticker, and the price list is the only reliable source.
| Cost line | Indicative range | Buyer action |
|---|---|---|
| Unit price | Roughly $40,000 to $50,000 | Confirm net sqm, floor and view |
| Legal review | $800 to $2,500 | Use an independent Cambodia lawyer |
| Transfer and stamp duty | Lower through 31 Dec 2026 | Model under the incentive window |
| Furnishing | $5,000 to $15,000 | Budget for rental readiness |
| Management fee | $40 to $80 per month | Confirm the sinking fund |
| Vacancy allowance | 1 to 2 months per year | Stress-test net yield |
On an entry unit the soft costs are proportionally heavy, so legal review, furnishing and transfer add a meaningful share to the all-in figure before any rent arrives. Use the stamp duty incentive that runs through 31 December 2026 to lower the 2026 transfer cost, and build the cambodia-property-taxes-fees-2026 numbers and the capital gains tax deferred to 1 January 2027 into your model. The BKK3 location does not change this arithmetic; it simply means you are paying entry-tier costs for a central address, which is the trade a Time Square 11 buyer is making.
How does the Megakim payment plan work on Time Square 11?
Megakim commonly markets Time Square 11 on 20% down with the balance over roughly 40 months. The plan is normal and accessible; the decisive detail is whether instalments are tied to verified construction milestones or to calendar dates, because a calendar plan shifts delivery risk onto you.
A 20% down, 40-month structure is what brings a central BKK3 unit within reach of buyers who cannot pay cash, and it is one of Time Square 11’s real attractions. The exposure is the standard presale risk: paying instalment 18 of 40 on a stalled tower leaves capital committed with limited recourse in a thin resale market. The pressure is sharper in a crowded cluster, where a developer competing on price may lean harder on continuous sales to fund construction. Insist on milestone-linked releases and escrow where available, get each payment trigger named in the contract, and study the off-plan protections in off-plan-property-cambodia-guide before you deposit.
What rental yield can Time Square 11 realistically deliver?
BKK3’s central demand supports letting, but any 12% to 15% gross yield claim is marketing only with no guarantees. Underwrite net yield after vacancy, management and maintenance with realistic BKK3 rent comps, and expect price-sensitive tenants in a cluster where affordable supply competes hard.
The location helps the yield case and complicates it at the same time. Central demand means an entry unit here should let more reliably than one in a peripheral tower, which protects occupancy. Against that, the cluster’s crowded affordable supply caps the rent you can charge, so the gross yield rarely matches the brochure. Model occupancy near 85%, use verified management fees and one to two months of annual vacancy, and discount the headline figure heavily. The realistic income at Time Square 11 comes from BKK3’s steady demand managed with pricing discipline, not from a double-digit gross yield, as phnom-penh-rental-yield-guide sets out.
Advantages and disadvantages of Time Square 11
Its advantages are a central BKK3 rental address, an entry ticket near $40,000 to $50,000, payment-plan access and the Haspo contractor; its disadvantages are heavy cluster supply that caps rent growth, entry-tier completion and liquidity risk, presale-financing exposure and a price-sensitive tenant pool.
| Advantages | Disadvantages |
|---|---|
| Central, walkable BKK3 location | Heaviest affordable supply concentration |
| Entry ticket near $40,000 to $50,000 | Cluster supply caps BKK3 rent growth |
| 20% down, roughly 40-month payment plan | Presale-reliant financing under 8.9% NPL |
| Grade-A contractor Haspo Group | Thinner, price-led resale liquidity |
| Steady demand from BKK1 spillover | Price-sensitive, competitive tenant pool |
| Recognisable Megakim affordable brand | Entry-tier completion risk on off-plan |
The advantages and disadvantages share one root: BKK3’s appeal. The central location that draws tenants is the same one that draws competing developers, so the demand that supports letting sits alongside the supply that caps rent. A disciplined Time Square 11 buyer treats the location as a reason to expect reliable occupancy, not outsized rent, and prices the unit accordingly.
Risks, red flags and what to verify
The main risks at Time Square 11 are off-plan non-completion, calendar-based payment plans, cluster oversupply that suppresses rent, unevidenced yield and quota marketing, and treating the BKK3 location as a guarantee rather than a probability. Run the checklist and stop if several flags appear together.
- Calendar-based instalments: Insist on milestone-linked payments and escrow, because a date-driven plan makes you carry delivery risk.
- Cluster oversupply: Check how many competing affordable units are launching nearby, since concentrated supply caps your achievable rent.
- Unevidenced marketing: Treat any 12% to 15% gross yield or near-full quota claim without documents as marketing only.
- Presale dependence: A tower funded only by ongoing sales is fragile under the 8.9% banking NPL ratio, so confirm the financing model.
- Deposit pressure: Requests to pay before independent checks are designed to block verification; a credible developer expects you to take time.
Insider tip: Visit the BKK3 streets around Time Square 11 at two different times on a weekday, in the morning and again in the evening, and count the “for rent” signs and lit windows in the nearby affordable towers. The real competition for your tenant is the building next door, and an hour walking the cluster tells you more about achievable rent than any yield projection.
Which buyers does Time Square 11 suit?
Time Square 11 fits buyers who want a central BKK3 rental address at an entry ticket, value payment-plan access, and accept cluster supply and liquidity risk. It is the wrong fit for buyers chasing the absolute lowest ticket regardless of location, premium capital quality, or a short, certain exit.
| Profile | Goal | Fit | Starting point |
|---|---|---|---|
| Location-first buyer | Central BKK3 address | Strong | bkk3-phnom-penh |
| Payment-plan buyer | Spread cost over time | Strong | off-plan-property-cambodia-guide |
| Yield hunter | Net rent over headline | Moderate | phnom-penh-rental-yield-guide |
| Lowest-ticket buyer | Cheapest unit anywhere | Compare Ocean View | time-square-ocean-view |
| Capital-quality buyer | Brand resilience | Weak, prefer OCIC | megakim-vs-ocic-entry-price |
Scenario A: A buyer who specifically wants a central BKK3 unit takes Time Square 11 on a 20% down, 40-month plan, ties instalments to milestones, confirms the foreign quota in writing, and accepts cluster competition for steadier occupancy.
Scenario B: A yield-focused buyer walks the surrounding towers, models the unit on real BKK3 comps at 85% occupancy, and only proceeds if the net figure survives the cluster’s competitive rents.
Scenario C: A buyer who cares only about the lowest ticket, not the location, compares Time Square 11 against square-castle and Ocean View and chooses on net usable sqm rather than the BKK3 address.
How to run due diligence on a Time Square 11 purchase
Verify the licence and land title with a Cambodia lawyer, confirm the remaining foreign quota in writing, check the Haspo contractor on the project documents, walk the BKK3 cluster to gauge competing supply, model net yield with realistic comps, and tie any off-plan instalments to verified construction milestones with escrow where available.
Location-led diligence adds one step to the standard entry-tier checks: you must read the immediate BKK3 supply, because the building next door sets your rent ceiling. Because Time Square 11 relies on payment plans and presales like the rest of the Megakim line, the contract and financing model deserve full scrutiny. Apply the developer red-flag screen in developer-due-diligence-red-flags-cambodia, follow the transfer steps in due-diligence-process-cambodia-step-by-step, and keep the wider plan in cambodia-property-investment-guide-2026 in view. Confirm the quota ledger, secure milestone-linked instalments and escrow, inspect an older completed Megakim tower, count the competing supply on the BKK3 streets, and model the net yield with verified comps before any deposit moves.
MORE Group escrow and payment terms: Time Square 11 BKK3 Review
Time Square 11 BKK3 Review SPA terms in 2026 typically require 20 down with 36 to 40 months escrow is Case by case Time Square 11 under Megakim typically requires 20 down on a 36 to 40 months schedule with escrow listed as Case by case
| Project | Developer | Deposit | Schedule | Escrow practice | Verify before wire |
|---|---|---|---|---|---|
| Time Square 11 | Megakim | 20% down | 36 to 40 months | Case-by-case | Completed tower reference visit |
Our escrow red flag checklist for Time Square 11 BKK3 Review starts with whether instalments are calendar based or tied to construction milestones Time Square 11 under Megakim typically asks 20 down with 36 to 40 months while escrow is recorded as Case by case In Cambodia’s 8 9 NPL environment we treat missing escrow language as a case study risk buyers who wired 20 down on a 40 month Megakim calendar plan without milestone exhibits bore delivery risk in prior cycles Request Completed tower reference visit in writing and compare against OCIC 30 milestone templates before any second payment Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
MORE Group rent comps: BKK3
realistic rent underwriting for Time Square 11 BKK3 Review uses BKK3 comps not island or CBD premiums unless the unit delivers that location Time Square 11 completed at 480 month on 42 sqm implies about 7 1 gross before vacancy in our Q2 2026 archive
| Building / source | Unit | Size | Monthly rent | Indicative gross | Note |
|---|---|---|---|---|---|
| Time Square 11 (completed) | 1BR furnished | 42 sqm | $480 | 7.1% | Young expat segment |
| Time Square 306 (completed) | 1BR semi-furnished | 44 sqm | $520 | 7.0% | Russian Market access |
| Local BKK3 mid-rise | 1BR unfurnished | 40 sqm | $380 | 7.5% | Local tenant mix |
| Time Square cluster avg | 1BR blended | 43 sqm | $450 | 7.2% | Portal archive Q2 2026 |
MORE Group rent comp case study for this page anchors on Time Square 11 completed a 1BR furnished at 42 sqm quoting 480 per month implies about 7 1 gross before vacancy at typical ask prices The spread to Time Square 306 completed at 520 shows furnishing and floor drive a 7 0 to 7 1 gross band We underwrite net returns after 1 to 2 months vacancy 8 to 12 management and sinking fund lines because 12 to 15 brochure yields remain marketing only in 2026 Banking NPL near 8 9 raises completion risk on competing off plan supply that can soften rents 6 to 12 months after handover Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
MORE Group buyer nationality mix: Time Square 11 BKK3 Review
enquiry mix on Time Square 11 BKK3 Review shows which nationalities actually buy this ticket size a lead indicator for resale depth Polish leads at 16 1 on this page skewed toward entry tier megakim enquiries q2 2026 Confirm live comps with a Cambodia lawyer before transfer.
| Nationality | Share signal | District / project skew |
|---|---|---|
| Polish | 16.1% | Entry tier Megakim enquiries Q2 2026 |
| Russian | 14.8% | Payment-plan sensitive |
| French | 4.2% | Under-indexed vs BKK1 |
MORE Group buyer nationality methodology tracks enquiry share from realestate com kh and Phnom Penh shortlist requests not census data On this page the leading signal is Polish at 16 1 with skew toward Entry tier Megakim enquiries Q2 2026 Polish 9 0 Russian 9 6 and French 7 4 remain citywide anchors in 2026 but building level mix diverges Megakim entry towers overweight Polish and Russian buyers while BKK1 and Koh Pich overweight French and Chinese enquiries Use the table as a resale liquidity hint when foreign quota nears 70 Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
Insider tip: On Time Square 11 BKK3 Review, archive three rent comps, the foreign quota letter, and escrow or milestone exhibits in one folder before you wire more than 10% to 20% deposit, because 2026 stamp duty relief binds to registration timing not SPA date alone.
Frequently Asked Questions
Time Square 11 is a Megakim tower in the BKK3 district of central Phnom Penh, the cluster where the developer concentrates much of its affordable supply. BKK3 is dense, walkable and close to BKK1's offices and embassies, which gives it genuine professional and expat tenant demand.
Time Square 11 is Megakim entry stock, broadly in line with the roughly $40,000 to $50,000 of its Time Square siblings and at or near the $1,800 per sqm Phnom Penh average. Confirm the exact unit, floor and net size on the official price list before relying on a headline figure.
Yes, on the standard Cambodia basis: strata co-ownership above the ground floor within the 70% foreign quota per building. Land and ground-floor space stay off-limits. Confirm the remaining foreign quota in this tower in writing before any deposit.
BKK3 has real tenant demand from young professionals and value-conscious expats, helped by its central location next to BKK1. The trade-off is concentration: several affordable towers compete for the same price-sensitive tenants, which caps rent growth and can lengthen void periods when supply spikes.
Treat 12% to 15% gross yield claims as marketing only with no guarantees. BKK3's central demand supports letting, but model net yield after 1 to 2 months annual vacancy, management and maintenance with real BKK3 rent comps, and expect price-sensitive tenants in a competitive cluster.
Both are Megakim entry towers in the Time Square series built by Haspo Group. Time Square 11 is defined chiefly by its BKK3 location, while Ocean View competes on the absolute lowest ticket from about $40,000. Compare the specific units, floors and quota in each before deciding.
Frequently Asked Questions
Time Square 11 is a Megakim tower in the BKK3 district of central Phnom Penh, the cluster where the developer concentrates much of its affordable supply. BKK3 is dense, walkable and close to BKK1's offices and embassies, which gives it genuine professional and expat tenant demand.
Time Square 11 is Megakim entry stock, broadly in line with the roughly $40,000 to $50,000 of its Time Square siblings and at or near the $1,800 per sqm Phnom Penh average. Confirm the exact unit, floor and net size on the official price list before relying on a headline figure.
Yes, on the standard Cambodia basis: strata co-ownership above the ground floor within the 70% foreign quota per building. Land and ground-floor space stay off-limits. Confirm the remaining foreign quota in this tower in writing before any deposit.
BKK3 has real tenant demand from young professionals and value-conscious expats, helped by its central location next to BKK1. The trade-off is concentration: several affordable towers compete for the same price-sensitive tenants, which caps rent growth and can lengthen void periods when supply spikes.
Treat 12% to 15% gross yield claims as marketing only with no guarantees. BKK3's central demand supports letting, but model net yield after 1 to 2 months annual vacancy, management and maintenance with real BKK3 rent comps, and expect price-sensitive tenants in a competitive cluster.
Both are Megakim entry towers in the Time Square series built by Haspo Group. Time Square 11 is defined chiefly by its BKK3 location, while Ocean View competes on the absolute lowest ticket from about $40,000. Compare the specific units, floors and quota in each before deciding.
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