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ខ្មែរ 
GDT to Initiate Capital Gains Tax Collection from January 2021
- 29 August 2020
The General Department of Taxation (GDT) of the Ministry of Economy and Finance will collect tax on capital gains from 01 January 2021, after delaying implementation since July 2020. According to the Prakas of the Ministry of Economy and Finance, capital gains refers to taxable income from the sale or transfer of capital deducted with occurred expenses. Capital refers to real estate, leasing...
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New Commercial Centre in Sihanoukville Officially Opens
- 28 August 2020
Sihanoukville Governor HE Kouch Chamroeun presided over the inauguration ceremony of a new Dara Samnang Commercial Center in the city on 28 August. According to the representative of Dara Samnang Commercial Center, Mr Mom Dara, the project was built on a total area of 12,886 square metres in Village 3 of Sangkat 1. He added that the firm spent 12 months to complete the project with an invest...
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Singapore residential sales fall 14% due to COVID-19
- 28 August 2020
Singapore-based property consultant EDMUND TIE & Company has reported that private home prices in Singapore fell by 1% quarter-on-quarter (q-o-q) in Q1 2020, according to their URA All Residential Property Price Index. The Non-Landed Property Price Index (PPI) and the Landed Property Price Index also registered q-o-q declines of 1% and 0.9% in Q1 2020 respectively. The price decline amid th...
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New Law Allows More Foreign Workers Amid High Labour Demand in Construction Sector
- 28 August 2020
Photo: the print.in The Ministry of Labour and Vocational Training announced in a Prakas that companies are now allowed to employ more foreign workers if they cannot find enough local staff, amid a high demand for labour in the construction sector. According to the Prakas published on 14 August 2020, companies are now permitted to hire foreign workers of a greater number than the legal stand...
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Basic Work Completed for 17-hectare Landfill in Sihanoukville
- 28 August 2020
The responsible team has already completed the basic works such as demining and clearing the landscape for the 17-hectares million landfill project in Sihanoukville, according to a meeting between the Ministry of Public Works and Transport and the responsible firm on 26 August. Located in Prey Nob district, the project cost US$5 million and is being implemented by Heng Sambath Import Export Com...
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Hong Kong Firm Builds a Unique Style Rainwater Collection System in Battambong
- 27 August 2020
Hong Kong architecture firm Orient Occident Atelier has built an unique rainwater collection system in Snoeng village of Battambong province, to mitigate drought and provide clean water to the community. According to DeZeen, the project comprises of two water halls building with the loose and honeycomb brickwork structure to purified water before usage. The first hall is a closed brick struc...
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CVEA President Chosen to Lead ASEAN Valuers Association Next Term
- 27 August 2020
The Cambodia Valuers and Estate Agents Association (CVEA) President Chrek Soknim has been chosen to be the next president of the ASEAN Valuers Association (AVA). Cambodia is also honoured to also be hosting the AVA congress meeting next year. Mr Chrek told Construction & Property Magazine that he and all the CVEA members are very proud to receive this responsibility and pledged to do their ...
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Chip Mong Land Launches New Villa at the Landmark 60m Project with 8% Discount
- 27 August 2020
Chip Mong Land has launched several new villa models at the Landmark 60m project with a discount of up to 8%. The launching ceremony will be held on 29-30 August 29 at the sales office of the Landmark project. Those new models include Villa King, Villa Queen II, Villa Queen B II; and the launch of these models is in response to the demand and support from homeowners, in particular from the Gran...
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First Wellhead Platform of Apsara Oil Field Complete, Going Online This Year
- 27 August 2020
The construction of the minimum facility wellhead platform (Mini-Platform) for the Apsara oil is completed, while the first oil production is expected to be within this year. According to KrisEnergy’s press release on 27 August, the company has completed the mini-platform for Cambodia’s maiden oil field in Indonesia on 25 August. This fabricated structure is being delivered to the offshore fiel...
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Controversial China-backed Koh Kong Airport to Complete First Phase This Year
- 26 August 2020
The massive controversial Dara Sakor Aiport Project in Koh Kong province is set to see completion of the first phase of construction by the end of this year. The announcement was made during a meeting between Minister of the Secretariat of Civil Aviation HE Mao Havanna and Chairman of the Board of Union Development Company Mr Li Tao on 26 August. Mr Tao said that the construction of the airp...
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AIIB & ADB to loan Philippines with US$750m loan to manage COVID-19 impacta
- 26 August 2020
The Philippines has been offered a US$750 million loan from the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) to assist the nation to kickstart its economy following a slump caused by the COVID-19 pandemic. The loan is intended to help the Philippines increase its testing program and provide support to affected workers. AIIB Vice President DJ Pandian explained...
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Government Approves US$40 million Solar Power Plant in Banteay Meanchey
- 25 August 2020
The Council for the Development of Cambodia (CDC) on 25 August gave the green light to Ray Power Supply Co., Ltd to invest US$39.8 million to build a 30-megawatt solar power plant in Banteay Meanchey province. Located in Russey Khang and Samrong Thom villages of Preah Net Preah district, the project is expected to create hundreds of jobs for local people. On the same day, CDC also gave a...
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