Song Saa Reserve, Cambodia’s Largest Eco-tourism Area Opens for Investors
Cambodia's largest eco-tourism area ‘Song Saa Reserve’ has officially opened its doors for investors following a media briefing at Rosewood Phnom Penh organised by property developer Song Saa Collective
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Aeon Officially Announces Location of Third Mall
Japan shopping mall developer AEON MALL Co.,Ltd has officially announced the location of its third mall in Cambodia.
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MLMUPC Builds Support for Construction Safety Handbook
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has called all relevant stakeholders in the construction sector to jointly promote work safety in the construction sector.
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How Convenience Stores and Minimarts Shape Retail Markets
The retail sector in Cambodia has been buoyed by ongoing economic growth, but retailers in Cambodia have been slower to modernize and the country remains as one of the most unsaturated convenience-store markets in Asia.
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Chip Mong’s New Plant Focusing on Southern Phnom Penh Development
A newly-built Chip Mong Industries concrete factory in Cheung Ek is set to capitalize on the rapid development in the southern part of Phnom Penh. Speaking with Construction&Property Magazine on 11 October, 2018, a representative from Chip Mong Industries said that the new concrete factory was built as the company saw sales momentum and the development of a modern construction sector in the Cheung Ek area and around the 60-metre wide Hun Sen Boulevard where high quality concrete is in strong demand.
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Ministry of Land Management to Set Measures for “land-price Updates”
As land prices increasingly rise across the country, the Ministry of Land Management Urban Planning and Construction (MLMUPC) has announced plans to introduce a “land-price update”,
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Ministry of Environment to Organise Green Housing Competition
The Ministry of Environment is to organise a competition on designing sustainable housing. According to a post on the Ministry of Environment Facebook page on 3 October, 2018, H.E Say Samal said that “the ministry will consider organising a competition among boreys and to encourage to those who care about and love the environment”.
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Samdech Hun Sen Abandons Plan to Create Two More Provinces
Samdech Prime Minister Hun Sen has abandoned the plan proposed by the Ministry of Interior after the general election to create two more provinces, according to a live video on Samdech’s Facebook page.
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Authorities call Preah Sihanouk construction site owners to public meeting on safety
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has ordered the Sihanoukville authorities to cease the issuance of ‘in principle’ construction permits with immediate effect. According to a letter sent to the Sihanoukville provincial governor dated 3 October, 2018, the MLMUPC through Secretary of State H.E Chan Saphan requested the authorities to stop giving out in principle construction permit letters before obtaining the actual construction permit from the ministry.
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Kampot Infrastructure Investment Fund Plans Feasibility Questioned
The feasibility of plans by the governor of Kampot to construct a high-speed rail link to Phnom Penh, have been questioned by an expert from the Ministry of Public Works and Transport (MPWT). On 4 October, 2018, MPWT spokesperson H.E Vasim Sorya told Construction&Property Magazine that “construction of high-speed railways costs on average between US$7-US$8 million per kilometre, therefore the investment capital of the project is too small”.
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IMF Cautions Cambodia on Credit in Real Estate Sector
Cambodia needs to be more cautious about credit in the real estate sector, according to the end-of-mission press releases issued by the International Monetary Fund (IMF) on 2 October, 2018 regarding the preliminary findings of the “2018 Article IV consultation”. The preliminary findings (not the views of the IMF’s Executive Board) of the 23-day mission 19 (September to 2 October, 2018), show that Cambodia's economy in 2018 will grow at 7.25% while inflation will remain relative low at 2.5%.
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Real Estate in Sen Sok District in High Demand
Thanks to extensive ongoing development in the area, Sen Sok district is the most in demand area in Phnom Penh among real estate buyers, according to local experts.
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