Half of Government’s Public Investment Allocated to Infrastructure Sector
The Cambodian government has approved 629 public investment projects, worth over US$12 billion, of which 50% has been allocated to infrastructure development, according to the 2021-2023 public investment bill approved by the cabinet on the morning of 09 October. Among all the projects, 203 projects are being implemented, using US$8.3 billion in capital. Meanwhile, the other 426 projects are abo...
Read MoreNational Police Chief Urge Strengthening Security in Condos and Boreys
The National Police and the Phnom Penh Municipal Administration have issued eight new sets of guidelines for all real estate developers to practice, aiming at strengthening security and safety in condos and boreys across Phnom Penh city. The guidelines were announced during a joint meeting between the National Police Chief General Neth Savoeun and Phnom Penh Governor HE Khuong Sreng Kar on 08 O...
Read MoreChinese Firm Finishes Phnom Penh-Bavet Railway Feasibility Study
The assigned Chinese firm has recently finished the feasibility study of the railway project connecting Phnom Penh to the Vietnam border Bavet City, according to a senior official of the Ministry of Public Works and Transport (MPWT). Ministry spokesman HE Vasim Sorya said on 06 October that the railway project is part of the development of the economic corridor between Cambodia and Vietnam, whi...
Read MoreGovernment Gives Green Light to Tourism Port Project in Kandal Province
Prime Minister Hun Sen has encouraged Prince Real Estate Group to invest in a tourism port on the site of the newly opened entertainment centre Prince Manor in Kien Svay District to promote tourism. "Prince Manor has also invested in an attractive area which also contributes to Cambodia's tourism sector as well as agriculture. I would like to encourage you to continue this investment," PM Hun S...
Read MoreGovernment to Upgrade Three National Roads in Kampot
The Cambodian government has recently revealed plans to upgrade three national roads in Kampot province, including NR41, NR31, and NR33. The three projects are currently awaiting approval from the Ministry of Economy and Finance. Prime Ministry Hun Sen made the statement during the grand opening ceremony of Prince Manor on October 7. (Read more) “Yesterday I entered a deal to construct three...
Read MorePM Hun Sen to Break Ground on Koh Norea Bridge Project on 26 October
Prime Minister Samdech Hun Sen will break ground on the construction of a cable-stayed bridge connecting Koh Pich to Koh Norea in late October, according to his speech during the grand opening ceremony of Prince Manor on the morning of 07 October. "On 26 October, I will break-ground on another construction site, a concrete bridge connecting Koh Pich to Koh Norea. We will continue to build more ...
Read MoreGround Broken on US$290 million Aeon Mall 3
Japanese firm Aeon Mall (Cambodia) Co Ltd broke ground on the morning of 07 October on its third mall located long Hun Sen Blvd in south Phnom Penh, after its success with the first and second malls in Cambodia. The ground-breaking ceremony was presided over by Phnom Penh Governor HE Khuong Sreng and Aeon representatives. Located in Chak Angre commune, Meanchey district, this project is bein...
Read MoreUS$85 million Entertainment Centre in Kandal Prince Manor Officially Opens
Samdech Prime Minister Hun Sen presided over the grand opening ceremony of Prince Manor on the morning of 07 October, a gigantic entertainment centre in Kandal Province. Located along NR1 in Kien Svay District, about 20km from Phnom Penh city centre, Prince Manor has been developed by Chinese firm Prince Culture and Tourism Development Co., Ltd. with an investment of US$85 million. Spread ov...
Read MoreQ&A: New Capital Gains Tax & the Impacts on the Cambodian Real Estate Sector
After the Department of General Taxation (GDT) announced that all capital gains, including the profit gained from selling real estate, are subject to a 20% tax after 01 January 2022, there have been doubts regarding how exactly the new tax will be implemented. One of the leading law firms in Cambodia DFDL and renowned real estate agent CBRE Cambodia organised a seminar on 30 September to clarif...
Read MoreHotel in Thailand Apologises for Using Angkor Art to Decorate Hotel
The owner of Le Palais Hotel in Koh Phangan has issued an apology following criticism for using ancient Khmer temple art as the designs for the hotel and restaurant. “We are extremely sorry for the frustration this has caused you and would like to clarify the vision from our founder’s heart and intention,” read the letter from Le Palais Hotel on 04 October. “We launched the hotel humbly only...
Read MoreCAMSOC Accelerating Construction of Athletes’ Village for SEA Games
The construction team at Morodok Techo Stadium is accelerating the construction of the Athletes' Village so that it will ready before Cambodia hosts the 32nd SEA Games in 2023. Secretary-General of the National Olympic Committee of Cambodia (CAMSOC) Vath Chamroeun said on 05 October that the Athletes' Village is a part the Morodok Techo Stadium project, on which construction is scheduled to be ...
Read MoreDefence Minister: Demolition of US-funded Defense Facility in Ream Not a Political Gesture
Deputy Prime Minister and Defence Minister Samdech Tea Banh clarified that the demolition of a US-funded Defence Facility in Ream last month is for development purpose with no intention to please any countries, according to AFP on 04 October. This explanation was made in response to the rumours claiming the demolition of this US building is a Cambodian government political gesture leaning towar...
Read More