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ខ្មែរ 
Mace Wins Unis Vietnam Contract
UK-based construction company Mace has been appointed as project manager, construction manager, and cost consultant for Phase 3 of the campus development for the United Nations International School (UNIS) in Hanoi, Vietnam. UNIS Hanoi was the first international school established in Vietnam, one of only two United Nations Schools in the world. The works will add shared spaces to each of the sc...
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World’s Largest All-terrain Crane Works at 3,000m
XCMG XCA5000 is the world’s largest all-terrain crane in terms of tonnage. Recently, it succeeded in hoisting a 2MW wind turbine in Yunnan province, China. The XCA5000 is the first 2,000-ton all-terrain crane applied in construction around the world. The hoisting site was on the top of a mountain over 3,000m above sea level and covering an area of only 600m2. The crane was driven for five...
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Property Tax Collection Extended to End 2014
The government has extended its deadline to collect property tax for the third time this year in response to many property owners still being unwilling to pay. After the deadlines of 30 September and 31 October passed, a new deadline of 31 December, 2014 was set. In a notice released on 4 December, the General Department of Taxation said that while a majority of property owners had paid the tax...
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Australia to Charge Fees On Overseas Property Buyers
After a sharp rise in property prices in Australia due to a 60 percent rise in Chinese buyers, the government plans to charge foreign property buyers fees to deter foreign buyers. Sydney in particular has seen prices rise by as much as 14 percent in the last year and many have complained that that foreign homebuyers in general, and Chinese buyers in particular, are pricing Australians out of th...
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2014 Phnom Penh Condo Study Released
New market research on Phnom Penh’s condominium sector by global real estate agency Century 21 has identified some of the key factors behind the healthy growth of the condo market. These include; the impacts from ASEAN integration; rising incomes especially among working couples; increased population; better housing loan services; and the trend of citizens desiring a more modern lifestyle. Acco...
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Asia Dominates Priciest Office Space
According to CBRE Research's biannual Global Prime Office Occupancy Costs survey, Asia continued to dominate the world's most expensive office locations, accounting for seven of the top ten markets. CBRE tracks occupancy costs for prime office space in 126 markets around the globe. Of the top 50 most expensive markets, 20 were in Asia Pacific, 20 were in EMEA, and 10 were in the Americas. As...
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Soaring Sales See China’s Biggest Developers Go Global
Chinese buyers spent more on a commercial real estate outside China than in the country for the first time last year. Sales for Greenland Group and China Vanke, China’s two largest property developers, have both broken through the US$35bn mark. According to figures released by property research institute China Index Academy, and reported in Global Construction Review, turnover at the state-o...
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Route 1 Land Prices Rise Thanks to New Infrastructure
Cambodian real estate industry insiders have said that property prices along National Route 1 rose by 30 percent in some areas in 2014. The reasons for the rise in value in area from the south of Monivong Boulevard in Phnom Penh to Bavet town were attributed to a range of reasons. The strong performance of the economy, strategic speculation, the increasing trade between Cambodia and Vietnam, an...
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Booyoung Town to Resume Works Early 2015
After halting shortly after breaking ground in May 2013, work on the stalled US$1.1 billion Booyoung Town development is set to resume early this year. Speaking anonymously, a senior manager at the South Korea-owned Booyoung Khmer, the sister business to Booyoung Town, recently told The Phnom Penh Post that work on the project would begin in early 2015 after the company redesigned the master pl...
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Riviera Condos to Start Construction
Construction on Cambodia’s most costly condominium project, the Diamond Island Riviera, is planned to start mid-year according to the project manager. The DI Riviera project’s five buildings – A, B, C, D and E – cover 330,000 square meters and consist of condos, a mall, parking spaces and a shopping centre. The US$700 million development is modeled on Singapore’s Marina Bay Sands resort and ...
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Mortgage Availability Helps First-timers Buy Homes
According to figures from Cambodia’s lenders and leading real estate industry insiders, more and more young and first time buyers people are purchasing homes thanks to the greater availability of financing options such as mortgages. As bank loans continue to play a growing role in helping Cambodians purchase their own homes, ACLEDA Bank has reported an increase of about a third in the value of ...
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Sumitomo to Build Usd40 Million Thermal Power Plant in Myanmar
Sumitomo Corp. announced at the start of March that it had won a contract to construct a thermal power plant in Myanmar. The order from Myanmar Electric Power Enterprise, an affiliate of the Ministry of Electric Power, is worth about US$40 million. The plant will have two 25,000-kilowatt gas turbines. The first unit is set to launch operations in March 2016 and the second unit in July 2016. ...
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