NagaCorp Mulls Investing in Integrated Resorts in Siem Reap and Sihanoukville
Large-scale Cambodian casino monopoly firm NagaCorp is considering investing in Integrated Resorts (IR) in Siem Reap and Sihanoukville, to expand its business and generate new non-gambling revenue, according to its 2020 interim report. Released on 27 August, the report states the intention of the group to explore viable, profitable and mutually beneficial IR developments in […]
Read More
Updates on Major Infrastructure Developments in Sihanoukville
With the aim of transforming Sihanoukville into a multi-purpose economic zone like Shenzhen, China, the Cambodian government has been undertaking many large infrastructure developments in the province. Some have been completed, others are under construction, and there are several more planned, with a summary below. Phnom Penh-Sihanoukville Expressway The construction of the Phnom Penh-Sihanoukville expressway […]
Read More
Low Sales Rate Hits Phnom Penh Condominium Market
By Eric Wong Chon Lap With record units of residential properties available to the public in Phnom Penh, sales rates have fallen to a new low, with many empty homes in Phnom Penh which are mostly unsold or without residents. Due to COVID-19, we can foresee the postponement of new launches and discounts on unsold […]
Read More
5th PropertyGuru Cambodia Property Awards to be held on Sept 4
The organisers have made the responsible decision of postponing the 5th PropertyGuru Cambodia Property Awards’ black-tie gala dinner and awards presentation, previously set for June, to ensure the safety and health of guests, venues, and staff members. Cambodia’s leading annual real estate gala event will now be held on Friday, 4 September 2020 at the […]
Read More
Four International Multi-Purpose Buildings to be Built in Three Cambodian Provinces
Four international multi-purpose buildings will be built in Phnom Penh, Koh Kong, and Kep under the support of China’s Belt and Road Initiative (BRI). The first project is the Chong Fang International Building, the tallest of the four projects. Located in Khan Toul Kork, Phnom Penh, the building is to be 180 metres high, 60-floors, […]
Read More
Chumteav Mao Beach to be Developed into Multipurpose Tourist Attraction
Sihanoukville authorities are currently working on a master plan to develop the 13km Poy Chumteav Mao Beach into a new tourist attraction, where visitors can enjoy both day and night time activities. Tourism Department Director Taing Sochetkrisna told the Radio National of Cambodia on 28 August that Poy Chumteav Mao Beach will be the most […]
Read More
GDT to Initiate Capital Gains Tax Collection from January 2021
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 […]
Read More
New Commercial Centre in Sihanoukville Officially Opens
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 […]
Read More
Singapore residential sales fall 14% due to COVID-19
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 […]
Read More
New Law Allows More Foreign Workers Amid High Labour Demand in Construction Sector
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 […]
Read More
Basic Work Completed for 17-hectare Landfill in Sihanoukville
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 […]
Read More
Hong Kong Firm Builds a Unique Style Rainwater Collection System in Battambong
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 […]
Read More