Unlicensed Construction Sites Reduced by 7.7% After Construction Law Enforced
The construction sector in Cambodia has seen further regulation since the new construction law was implemented in 2019. One positive result has been that the number of unlicensed construction sites nationwide dropped by over 7.7% from 2019 to the end of 2020. This data was presented during an online meeting between the Minister of Land […]
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Gov’t Approves Six New Investment Projects Worth Over US$100 million
The Council for the Development of Cambodia (CDC) has recently approved private firms to invest in building six factories, worth a total budget of approximately US$106.3 million in Kandal, Takeo, Kampong Speu and Preah Sihanouk provinces. The first investment permit has been granted to Yiankang Biological Technology Co., Ltd to invest US$2.9 million in building […]
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Progress Update on Five Affordable Housing Projects in Cambodia
To date, Cambodia has a total of five approved affordable housing projects, three of which are landed properties with a total of 8,331 houses, and two others are co-owned buildings with a total of 7,256 units, according to the latest data from the Ministry of Land Management, Urban Planning and Construction (MLMUPC). Here is a […]
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Tokyo-Nagoya Maglev Line Construction to Cost US$14 billion More
The ultra-high-speed maglev train project running between Tokyo to Nagoya is expected to cost up to US$64 billion, an increase of almost US$14 billion in addition to the original estimated cost, according to Nikkei Asia. The increase in budget is from the higher than expected costs for building complicated segments as well as from earthquake-proofing […]
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World’s Largest Ecotourism Project Gets US$3.76bn, First Phase Open Next Year
The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project on the Red Sea has closed a US$3.76 billion term loan with four Saudi banks. Meanwhile, the resort is expected to welcome tourists for the first time in 2022. According to the firm’s press release on 27 April, Banque […]
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Workplace Mobility in Cambodia 80% Below Baseline During Lockdown
The COVID-19 pandemic has put significant pressure on the office market over the past year. The mobility of this sector has become even worse during the 2021 lockdown as people have been forced to work from home. According to Google Mobility Tracker, workplace traffic in Cambodia for April was at -80% below the baseline before […]
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Opening of Century Entertainment Casino in Koh Kong Delayed
Century Entertainment International Holdings Ltd has decided to once again delay the reopening date of its casino at the new venue in Dara Sakor district, Koh Kong province, due to the continued impact of the ongoing COVID-19 community outbreak in Cambodia, reported IAG. This is the third time that the reopening has been postponed, from […]
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Authorities Suspend Four Factories in Takeo as COVID-19 Positive Cases Surge
After some factory workers were found to be COVID-19 positive, the Takeo provincial administration has decided to temporarily suspend operations of four factories in Bati district. Over 1,200 workers are also required to undergo tests and quarantine, according to the official announcement on 3 May. The announcement stated that the four factories will be suspended […]
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OCIC, Cambodia Airports Continue Talks on Cooperation Over New Airport Development
The request for a joint venture and cooperation in the new Phnom Penh airport development project by Cambodia Airports to OCIC is still on the table, but is yet to be finalised, according to the State Secretariat of Civil Aviation (SSCA)’s spokesman last week. The proposal was raised by Vinci Airports and SCA, commonly known […]
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Where Should You Buy Your Next Home? Why South Phnom Penh is Gaining in Popularity
When purchasing real estate, timing and location form the two core pillars of any successful investment strategy. If you make the investment at the right time and in the right place, the results can be lucrative, satisfying, and boost your lifestyle. Thus, it’s important to really study the trends and make the right choices. Now […]
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Star Vegas Casino in Poipet Sees 54.9% Revenue Drop in Q1 2021
One of the major casinos in Poipet, Star Vegas, has suffered a 54.9% drop in revenue during the first month of 2021, compared to the last and first quarter of 2020. According to IAG, the total revenue of Star Vegas in Q1 was only US$1.94 million. While the total net revenue of operation firm Donaco […]
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NagaWorld to Slash 1,300 Jobs as COVID-19 Hits Profits
Due to the large drop in profit caused by the COVID-19 pandemic, Cambodia’s largest casino NagaWorld has decided to slash 1,300 jobs, according to the South China Morning Post. These 1,300 jobs are equal to more than 15% of the total staff, who will be laid off in the next few weeks. The SCMP added […]
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