MEF Requests to Postpones Capital Gains Tax Collection to 2024
The Ministry of Economy and Finance has submitted a request to the Prime Minister Samdech Hun Sen to extend the implementation of the capital gains tax for another two years until 2024. HE Nop Sothonvichet, Ministry of Economy and Finance’s spokesman, said on 24 January that the request is to participate in the implementation of […]
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Retail to Go Through Major Adjustment in 2022 with Over 190K sqm Supply Expected: CBRE
Given the uncertainty of the pandemic, the retail sector remains under pressure in 2022, with the new shift towards professionalisation and new retail design concepts to stay alive in the competitive market, according to the recent CBRE yearly report. In 2021, the retail market was severely impacted by the pandemic with a sharp reduction of […]
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CBRE: Less Supply Expected for 2022 Residential Market; Buyer Behaviour Shifts
In 2022, the residential market will see fewer new launches, while promotions and offers will continue to occur as a mechanism for the market to absorb oversupplied units stemming from the sharp drop of foreign investors, according to the recent CBRE yearly forecast report. In the meantime, local home buyers will also change their value […]
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Cambodia’s Industrial & Logistics Sector to Shift Toward Specialisation & Greener Production
The industrial and logistic sector is expected to grow significantly in 2022 thanks to competitive operating costs and extensive and continuous government infrastructure development projects nationwide despite the pandemic, according to CBRE yearly report issued recently. The report added given the high growth potential, the sector will shift toward specialisation. Industries including agroindustry/processing, organic products, […]
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Ground Broken on New US$4-million University in Kandal’s Ang Snoul District
The construction of the US$4-million Samdech Preah Sanghareach Bour Kry University in Kandal province officially started with the groundbreaking ceremony presided over by Samdech Samdech Preah Sanghareach Bour Kry and Kandal Governor HE Kong Sophorn on 23 January. Located in Rokar Thom village, Bek Chan commune, Ang Snoul district, the university will be built on […]
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Cambodia to Build 10,000 4.0 Greenhouses Nationwide by 2032
The Ministry of Agriculture, Forestry and Fisheries (MAFF), in collaboration with three private firms, is planning to build over 10,000 4.0 Greenhouses nationwide in the next 10 years to upgrade and enhance the kingdom’s agricultural sector. The Ministry signed an MoU on the project on 21 January between the three companies including Agri-Sambathkhmer Co., Ltd, […]
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A Difficult Year for Real Estate Developments
By Eric Wong Chon Lap As another difficult year for the real estate market come to an end, the market has seen a series of interesting and unprecedented events in various sectors in the Year 2021. New condominium launches in Phnom Penh has slowed down, while low-rise affordable housing demand surges. The retail market is […]
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Construction Begins on US$7-million S. Korea-funded hospital in Ratanakiri
The Korea International Cooperation Agency (KOICA) is helping build a maternity and infant hospital in Mondulkiri province to help improve and strengthen the health system in the Northeastern region. The groundbreaking ceremony was held on Friday 21 January in the presence of the Cambodian Minister of Health and Ambassador of the Republic of Korea to […]
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CBRE Forecasts 10 Positive Trends for Cambodian Real Estate Sector in 2022
At the ‘Fearless Forecast 2022: Foundations of a Tiger’ event on Thursday 20 January, CBRE Cambodia forecasted ten positive trends that are likely to occur in the Cambodian real estate sector in 2022 and subsequent years. After a slump in high-end condominium openings during in the COVID-19 pandemic, there will be zero new high-end condo […]
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Kampong Speu Authorities Confiscate 784ha of Illegally Encroached On Land in Aoral District
The Kampong Speu Provincial Administration has denied ownership and confiscated 784ha of illegally encroached on land in Phnom Aoral Wildlife Sanctuary According to Order No. 05/22 dated 20 January 2022, the two land plots are located in Trang village and Chambok village, Trapeang Cho commune, Aoral district. The confiscation was made after the authority found […]
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Land Ministry Issues Detailed Procedure to Request Construction Permit
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has issued a new Prakas explaining all the detailed procedures for issuing and renewing construction permits. Prakas No. 013 dated 20 January 2022 is a supplement to Sub-Decree No. 224 issued on 30 December 2020 that requires project owners to apply for construction permits for […]
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China to Expand High-Speed Railway Network to 50,000km by 2025
China plans to extend the length of its high-speed railway network, which is currently the world’s largest, up to 50,000km by 2025, reported SCMP. By the end of 2020, the high-speed railway network in China was 38,000km. With the expansion plan, the network will exceed the combined length of the next five countries on the […]
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