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ABA Bank Invests US$30m in New Phnom Penh Airport Development Through Guaranteed Bonds
- 15 December 2021
Cambodia Airport Investment Co Ltd has sold another US$30 million guaranteed bond to ABA Bank to raise more funds for the development of the new Phnom Penh airport. The signing ceremony was held on December 14 between Overseas Cambodian Investment Corporation Ltd (OCIC), Cambodia Airport Investment Co., Ltd (CAIC) and ABA Bank. The bond is guaranteed by OCIC with an interest rate of 5.5% per...
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PM Hun Sen Officially Inaugurates US$180-million Hyatt Regency Phnom Penh
- 15 December 2021
The US$180-million Hyatt Regency Phnom Penh invested in by Chip Mong Group was officially inaugurated in the presence of Prime Minister Samdech Hun Sen on Wednesday 15 December. During the ceremony, PM Hun Sen said that this five-star hotel is another achievement for the whole Cambodian society, not just for Chip Mong Group. The hotel will contribute to the growth of the tourism sector by attra...
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Gov’t Plans New Financing Program for Hotel Businesses to Renovate Their Venues
- 14 December 2021
The Ministry of Economy and Finance plans to provide additional financing packages to tourism and hotel operators so that they can use the capital to rehabilitate, renovate or expand their venues during the reopening period. Speaking at a press conference on 14 December, HE Phan Phalla, Secretary of State of the Ministry of Economy and Finance, stated that the financial assistance will be provi...
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Affordable Housing Projects to Gain More Momentum in 2022, says Expert
- 14 December 2021
Real estate expert and President of KW Cambodia Dr Kim Heang has projected that the borey market will remain strong in 2022 and at least for the next 5-10 years, citing low to mid-range types will be in high demand . Dr Kim Heang said boreys that are in strong demand will be those priced from US$50,000 to US$100,000. “A large proportion of the Cambodian population are those with low and midd...
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Expert: Divided Land Plot Business Prone to Collapsing if No Change in Developing Method
- 14 December 2021
Real estate expert and President of KW Cambodia Dr Kim Heang has warned that some divided land plot businesses in Cambodia or known as “Dey Lo” are prone to collapsing in the next two or three years if the developers do not upgrade or change their development methods. Dr Kim said recently that the trend of buying Dey Lo will remain for at least until 2030, especially among young people with low...
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Stamp Duty Tax Exemption for Property Worth Under US$70,000 Extended Beyond 2021
- 14 December 2021
The stamp duty tax exemption for houses and condos worth equal to or under US$70,000 will be continued beyond 2021, as part of the government’s measures to boost economic recovery from the COVID-19 pandemic. The announcement was made by HE Phan Phalla, Secretary of State of the Ministry of Economy and Finance, in a press conference on the economic recovery strategy on 14 December 14 at the Gove...
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Real Estate Firm JS Land Plc Receives In-Principle Approval for Stock Listing
- 14 December 2021
JS Land Plc, a housing developer, has received in-principle approval for a stock listing on the Cambodia Securities Exchanges (CSX). The approval was made in an official meeting on the non-banking financial service sector held on 13 December under the presidency of HE Aun Pornmoniroth, Minister of Economy and Finance. In the meeting, the non-banking financial council asked the JS Land Plc to...
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Ground Broken on US$22-million Japanese-Funded Clean Water System in Pursat
- 13 December 2021
The Government of Japan has provided US$21.9 million in grant aid to build a new water supply system in Pursat province to increase access to clean water for the local people. The ground-breaking ceremony of this water supply system took place on 13 December, in the presence of Japan Ambassador to Cambodia HE Mikami Masahiro and Minister of Industry, Science, Technology and Innovation HE Cham P...
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Giant South Korean Firm Invests Nearly US$18 billion in Vietnam in 24 years
- 13 December 2021
South Korea’s electronics giant Samsung has invested nearly US$18 billion in manufacturing and research facilities in Vietnam in the last 24 years. The investment amount represents 29% of total investment in the last five, VN Express reported on 7 December. Samsung, with eight manufacturing and research facilities in the country, earned revenues of nearly US$60.5 billion in the first 10 mont...
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The 16th PropertyGuru Asia Property Awards Grand Final celebrates the Gold Standard bearers of real estate
- 13 December 2021
THE BEST OF ASIA DISTINGUISHED IN CELEBRATORY VIRTUAL FINALE OF THE 2021 PROPERTYGURU ASIA PROPERTY AWARDS SERIES • Mekong Land Development Co., Ltd. from Cambodia won the title of the Best Breakthrough Developer (Asia) • Country winners from Vietnam, Mainland China, Hong Kong, Singapore, Philippines, Thailand, Cambodia, and Greater Niseko (Japan) collect coveted regional accolades an innovative...
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Phnom Penh Autonomous Port Earns US$30 million in 11 Months
- 13 December 2021
During an 11-month period of 2021, the revenue of Phnom Penh Autonomous Port (PPAP) was at US$30 million, a 14% increase compared to the same period in 2020. According to the PPAP’s report published on 9 December, of total revenue, port operation revenue was at US$24.37 million (up 16% y-o-y), port authority revenue at US$3.23 million in (down 3% y-o-y), revenue from other services at US$300,00...
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Construction of New Road Connecting Steung Treng to Kratie Completed
- 13 December 2021
Construction of a new rural road connecting Steung Treng and Kratie provinces, which was built with the donation from Prime Minister Samdech Hun Sen, has been completed. The road is 15km long and 6m wide, connecting O’Mreah commune to Siem Bok commune in Siem Bok district which is on the border of Kratie province. Steung Treng Governor HE Svay Sam Eang said that the road will play a major ro...
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