Local News
No Collateral Seized Despite COVID-19 Crisis: Banking Association
The Association of Banks in Cambodia has confirmed that despite the COVID-19 crisis, no borrower collateral has been seized due to late payment, but rather all banks under the association have been doing their best to ease the burdens of all their clients. General Manager of the Association of Banks in Cambodia Heng Koy said […]
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CBRE: Property Market Still Facing High Degree of Uncertainty Despite Vaccine Roll-Out
The real estate market in Cambodia remains under pressure and is still facing a high degree of uncertainty despite the very impressive vaccine roll-out by the government, with experts not expecting to see a recovery this year. According to the CBRE Cambodia 2021 Mid-Year Review Webinar yesterday, all four main sectors of the property market […]
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Golden Park to Launch Official Pre-Sale with up to a 12% Discount
Advertorial One of Cambodia’s leading real estate developers Golden Park will launch an official pre-sale of The Natural Project on Thursday 8 July with up to a 12% discount and a 24-month instalment term without interest. The Natural Project is a modern borey (Landed Property) spread out on over 50 hectares with 4.5 hectares of […]
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1,000 Hectares in Koh Kong Allocated for Defense Ministry Development Zones
The Koh Kong Provincial Administration has agreed to allocate 1,102 hectares of its reserved land to the Ministry of National Defense for the development of Samdech Pichey Sena Tea Banh and the Ministry of National Defense vacation zone. The Minister of National Defense Samdech Tea Banh was quoted by the Phnom Penh Post on 6 […]
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Major Infrastructure Plan Set for New Development Zone in Banteay Srei District
The new Run Ta Ek development zone in Siem Reap’s Banteay Srei district will soon welcome a whole new set of infrastructure as the inter-ministerial committee are speeding up the works on the masterplan preparation. This new development was proposed to host over 560 families who moved from downtown Siem Reap as their residences were […]
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China Proposes ‘Sister City’ Agreement Between Hubei & Cambodia’s Three Major Provinces
China has proposed to establish a ‘sister city’ agreement between its renowned commercial hub in Hubei province and Siem Reap, Kampot and Sihanoukville in Cambodia. According to a letter from the Ministry of Foreign Affairs and International Cooperation on 2 July, the proposal aims to boost trade opportunities and develop these four provinces into a […]
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Two Months’ Notice Given to PP Sidewalk Businesses: Demolish or Relocate
Phnom Penh municipality has placed a new order giving two months to all business owners to remove or relocate their shops located on sidewalks; otherwise face drastic legal action. In a meeting with authorities from the 14 districts on 29 June, Phnom Penh Governor HE Khoung Sreng ordered the local authorities to take action immediately […]
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PM Warns Against Abusing COVID-19 Fatality Management to Encroach Upon State Land
Prime Minister Samdech Hun Sen announced this morning that each provincial administration must continue to prepare land as burial and cremation sites for COVID-19 fatalities, as well as to prepare wood for building coffins. However, Samdech Hun Sen strongly warned all officials and influential people to not take this opportunity to encroach on state land […]
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The Change in Rental Behaviours Amid Current Market Conditions
Phnom Penh’s condominiums are patiently waiting for recovery, despite limited sales performance during the three-week complete lockdown due to COVID-19 market conditions. Some developers have implemented significant price promotions to clear their unsold inventory, while others have adopted a “wait-and-see” approach and shifted their attention to the daily-rate market and waiting for the market to […]
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How Developers are Offloading their Stuck Residential Inventory in this Challenging Time
COVID-19 has impacted the residential market broadly with no significant improvements during the first quarter of 2021. There were almost no new condominium units launched for the first three months of this year, and most of the major developers are rushing to revamp their strategies, focused on making quick revenue in order to manage and […]
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