Major Infrastructure Projects Broken Ground in 2020
Although 2020 was not a good year due to the COVD-19 pandemic and the recent floods, the government of Cambodia continuously updates infrastructure development. Thus far, none of the infrastructure projects have been delayed. Projects scheduled to break ground in 2020 have also already begun. Here is the list of the major infrastructure projects that […]
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OCIC Unveils Details of Expressway Project from City Centre to New Airport in Kandal
OCIC Chairman Neak Oknha Pung Kheav Se has revealed details of the expressway linking Phnom Penh city centre to the new Phnom Penh international airport in Kandal province. Neak Oknha Pung Kheav Se said in an exclusive interview with Construction & Property Magazine on 19 December that the expressway will be built as a flyover […]
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South Korea’s Investment in Cambodia Reaches US$5.7 billion, Becomes Second Biggest Foreign Investor
The Republic of Korea’s investment in Cambodia has reached US$5.7 billion, now standing as the second highest foreign investment in the Kingdom; a large proportion of which has been used for infrastructure development projects. Ambassador of the Republic of Korea to Cambodia HE Park Heung-Kyeong revealed the data during his meeting with the President of […]
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CVEA: Real Estate Transactions in 2020 dropped by 15%, Price Remains Robust
Cambodia Valuers and Estate Agents Association (CVEA) President Chrek Soknim has said that overall real estate transactions in 2020 decreased by 15% – 20%, yet the average sales price remains robust. He explained that the fall in the number of transactions was due to the COVID-19 pandemic, which reduced the amount of foreign investment in […]
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Construction of NR2 and NR22 20% Complete
The construction and restoration of National Road 2 and 22 from Takmao to Ang Ta Saom has been 20% completed and is scheduled to finish in the first quarter of 2022, according to Ministry of Public Works and Transport spokesman Heang Sotheayuth. Mr Sotheayuth told the Ministry of Information recently that since the ground-breaking ceremony […]
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Bluebell signs MoU with Oxley to Manage the Peak Mall
Leading Asian Omni brand operator Bluebell Trading Pte. Ltd has recently signed an MoU with Oxley Gem (Cambodia) Co., Ltd to manage the Peak shopping mall project, according to a press release from the company on 24 December. Ashley Micklewright, CEO of Bluebell Group said, “We are delighted to partner with Oxley-Worldbridge in Cambodia, and […]
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Phnom Penh Municipality to Take Action Against Encroachers on Canals and Public Land
The Phnom Penh municipality plans to take action on illegal canal and public land encroachment soon, particularly in the western part of Phnom Penh, after deciding to dredge and rebuild 12 drainage systems across the city. The plan was announced in a meeting chaired by Phnom Penh Governor HE Khuong Sreng on 24 December. During […]
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Several EU Members Provide Co-financing of US$115 million for Cambodia’s Rural Infrastructure Development
The German development bank KfW, AgenceFrançaise de Développement (AFD) and the European Union (EU) have provided US$115 million in co-funding to Cambodia for rural infrastructure development projects in the central area of the country. The agreement was signed recently by the Cambodian government, the German development bank KfW, AFD and the EU representatives, according to […]
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Property Sector Yet to Experience Significant Effects from Community Transmission Event
President of the Cambodia Valuers and Estate Agents Association (CVEA) Mr Chrek Soknim said that the recent COVID-19 community transmission outbreak, known as the 28 November incident, has yet to negatively affect the real estate market in Cambodia. Speaking to Construction & Property Magazine on 24 December, Mr Chrek Soknim said: “It is too soon […]
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CVEA’s Recently-elected President Vows to Boost Real Estate Market in Cambodia 2021
Mr Chrek Soknim has vowed to do his best to boost the Cambodian real estate market after he was recently re-elected as the president of the Cambodian Valuers and Estate Agents Association (CVEA) for 2021-2022. The vote counting and results announcement was held via video call on 23 December with the participation of board members […]
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New Battambang Solar Power Station Over 90% Complete Receives Additional US$45-million in Funding
Chinese firm Risen Energy has injected an additional US$45-million funding into the new 73-megawatt Battambang power plant project, while the construction of the plant is over 90% complete. Risen Energy has received this additional funding in form of debt from DEG and ICCF (The Interact Climate Change Facility, the European Investment Bank, and eleven European […]
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Gov’t Continues Tourism-Related Business Tax Exemption for Further Three Months
The government has decided to continue the tax exemption for tourism-related businesses including hotels, guesthouses, restaurants and travel agencies for another three months, to help the tourism sector during the pandemic. According to an official announcement released on 23 December, the exemption applies only for businesses in Phnom Penh, Siem Reap, Sihanoukville, Kampot, Bavet and […]
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