Local News
Booming Construction Sectors Attracts More Than Us$5 Billion in FDI
Over the last 10 years, the construction sector has grown rapidly and attracted billions of foreign investment while creating tens of thousands of jobs. In fact, during an 18-year period (2000-2018), the Ministry of Land Management Urban Planning and Construction (MLMUPC) has granted construction permits to foreign investors worth US$5.4 billion over a total construction area of more than 15 million square metres.
Read More
Blood-bricks: Booming Construction in Cambodia Built on Modern Day Slavery
The booming construction industry in Cambodia has been built on modern slavery with climate change being the key driver for the workforce, according to research by Royal Holloway, University of London published on 16 October, 2018. Entitled"BLOOD BRICKS: Untold Stories of Modern Slavery and Climate Change from Cambodia", the report shows that“tens of thousands of debt-bonded families in Cambodia extract, mould, and fire clay in hazardous conditions to meet Phnom Penh’s insatiable appetite for bricks”
Read More
Prince Begins Construction of Major Project in Sihanoukville
Construction officially began over the weekend on a major development project in Sihanoukville Province by Prince Real Estate Group. According to a post on Prince’s Facebook’s page construction began on the 16.3-hectare Prince City Center development project. The project, which covers a total construction area of 700,000 square metres is approximately 800 metres from the twin lions roundabout close to the Serendipity Beach area.
Read More
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.
Read More
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.
Read More
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”.
Read More
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.
Read More
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”.
Read More
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%.
Read More
Luxury Six Senses Krabey Island resort to welcome guests from December
Photo by Pixabay Hotels.com With Sihanoukville in need of more luxury accommodation, some exclusive new development projects are now coming online. One example is Six Senses Krabey Island, a member of Six Senses Hotels Resorts Spas, which is set to accept room reservations from December 1, 2018. Located in the heart of tropical island Krabey, […]
Read More