Local News
A new era in the Phnom Penh housing market
By Eric Wong Chon Lap The condominium market in Phnom Penh has slowed recently due to the accumulation of unsold stock and surge in supply. This has caused buyers to be more careful, resulting in less demand from speculators and more emphasis on real demand from the end-users. This explains why many developers are shifting […]
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Phnom Penh Mega Mall set to open in 2020
The Phnom Penh Mega Mall along the Russian Boulevard has opened for tenants to move in with the officially opening set for 2020. Phnom Penh Mega Mall is a 10-storey building with a total construction area of more than 100,000 square metres and is being developed by Hassan Cambodia Development Co., Ltd. Mrs Ann Sothida, […]
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300,000 condo units needed by 2030
With the lifestyles of the capital’s residents witnessing changing trends particularly among the younger generation, and while the prices of landed houses have increased, key real estate insiders say the demand for condo units will increase over the next five to ten years. Real estate experts say the current demand for condos in Phnom Penh […]
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The growth of co-working spaces in the office market
By Eric Wong Chon Lap For most occupiers in the Phnom Penh office market, the typical way of leasing office premises is a traditional lease with options to renew and the tenant fitting out the space. Multinational firms and new local startup firms, however, are increasingly looking for flexible lease terms as real estate costs […]
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Government plans to establish new Siem Reap city
At the 3rd meeting of the inter-ministerial committee for the Tourism Master Plan in Siem Reap on 16 September, the government outlined plans to establish a new Siem Reap city that would allow the construction of modern buildings. According to a Facebook post by the Ministry of Tourism, the new Siem Reap city will be […]
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Experts say Cambodia ready for high-end tourists
Experts from across the hospitality industry gathered last week to discuss investment opportunities in the tourism sector, citing that Cambodia is now ready for high-end tourists. Under the theme “Hospitality and Investment Trends in Cambodia”, the event was held on 12 September 2019 at Sofitel Phnom Penh Phokeethra and was organised by London-based real estate […]
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39-storey building slated for Chbar Ampov district
A US$1 billion 39-storey commercial building is planned to be constructed in Nioth commune, Chbar Ampov district, on the east of Bassac River opposite Koh Pich City. Construction on the Vue Aston building is set to start by the end of 2019 and will be completed by 2022. The building is joint venture between Sino-Cambodia […]
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Collection of stamp duty on property transfers increases by 60%
The General Department of Taxation has collected almost US$2 billion in tax revenue over an eight-month period with stamp duty on property transfers seeing the sharpest increase. According to a GDT press release dated 12 September, the department collected US$1,952 million, achieving about 85.33% of the national plan. This shows an increase of about 29.89% […]
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IMF Research: Increase property tax to advance economic growth in Cambodia
A new research paper funded by the International Monetary Fund (IMF) suggests Cambodia should increase property tax to fund billions of dollars of infrastructure spending, a move that will help advance economic growth. Published on 06 September, the ‘IMF Working Paper: Advancing Inclusive Growth in Cambodia’ analyses how increasing either property tax, VAT, or income […]
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New 4-star hotel opens in Kampong Thom province
Kampong Thom Royal Hotel & Restaurant officially opened its doors on 09 September in the heart of Kampong Thom province, adding another 87 rooms to support the tourism sector in the province. Located in Stung Sen city, Kampong Thom Royal was built with US$5 million from Cambodian investors and comprises 87 guest rooms as well […]
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