Local News
Conglomerate Chip Mong acquires Grand Phnom Penh International City
One of Cambodia’s leading conglomerates Chip Mong Group has acquired the Grand Phnom Penh International City which is believed to be one of the largest property development projects in Phnom Penh. Grand Phnom Penh International City is a huge development project spanning across 260 hectares of land in Kmounh commune of Sen Sok district featuring […]
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Construction boom causes competition in home loan interest rates
Recent figures from Ministry of Land Management Urban Planning and Construction indicate that the number of house construction projects has increased from 3,052 worth US$6.4 billion in 2017 to 43,136 worth more than $43,3 billion in 2018. As a result, the competitiveness of home loan interest rates has begun to attract more customers while most […]
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PM Hun Sen commits to transforming Sihanoukville into the most important SEZ
Cambodia’s Prime Minister Samdech Techo Hun Sen has vowed to transform Sihanoukville into Cambodia’s most important Special Economic Zone (SEZ) which requires the government to develop critical infrastructure. The commitment was made during a meeting between Samdech Techo Hun Sen and Mr Li Yong, Director General of the United Nations Industrial Development Organization (UNIDO) held […]
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Ban on online gambling shrinks real estate activities in Sihanouvkille, but opportunity arises
The recent ban by the Cambodian government on online gambling has caused many Chinese nationals to leave the busy city of Sihanoukville with real estate activities affected as a result. However, experts remain optimistic that this change will create new opportunity for the industry. Speaking at the real estate market review held on 11 October, […]
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CBRE Market View: Total retail supply drops nearly 17%, yet more projects announced
The newly launched Phnom Penh market view compiled by international real estate agency CBRE Cambodia shows that total retail supply over Q3 2019 has dropped by 16.9%. However, despite these figures, more projects continue to be announced. Presented during an event held at Rosewood Hotel on 10 October, the reported drop is due to the […]
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Thai retail supermarket, Big C will provide more job opportunities to Cambodians
Big C supermarket is creating additional job opportunities for local people a week after opening its first branch in Cambodia. Before the soft opening day, Big C supermarket helped to create 1,200 jobs in the area according to its project application with the Council for the Development of Cambodia (CDC). The giant retail store includes […]
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New Sihanoukville special economic zone proposed
Two companies have proposed 1,600 hectares of land in Sihanoukville province to be developed into a special economic zone through land reclassification, according to the provincial administration. On 07 October, Sihanoukville provincial governor H.E Kouch Chamroeun held a meeting to discuss the proposal with the Stung Hav district governor and other officials from relevant departments. […]
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ADB says real estate credit poses challenge to Cambodia’s GDP growth
The Asian Development Bank (ADB) has recently forecasted that Cambodia’s GDP to grow at 7.0% this year while suggesting that the country should reduce financial risk poses by credit on the real estate sector. According to the recent press release of its latest report, Cambodia’s growth remains driven by the four traditional sectors such as […]
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Real estate transactions in Cambodia remain strong
Real estate transactions in Cambodia remaining strong is best reflected by the sharp rise in property tax, according to industry expert Sorn Seap. The General Department of Taxation (GDT) has recently collected US$1,952 million in tax revenue, of which the tax on stamp duty increased by 60.18% compared to the same period last year. (Read […]
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The rise of international schools in Phnom Penh
By Eric Wong Chon Lap The existing number of international schools in Phnom Penh is seeing the city have one of the highest number in Southeast Asia, as there are more accredited international schools than ever before. This is in response to the rising demand from Cambodian parents who seek culturally diverse environments, and of […]
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