Local News
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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‘Amory 7 Makara’ development phase two plots open for sale
Real estate firm Amory has announced the launch of sales for the second phase of the ‘Amory 7 Makara’ development project over the weekend with around 300 potential customers attending the event, according to their press release. Located along National Highway No 6 to Oknha Ly Yong Phat and links to National Road 5, the […]
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Economy Ministry: Construction and real estate sector to experience 4-year slow down
The Ministry of Economy and Finance has forecasted that the construction and real estate sectors, the sub-sectors supporting economic growth, are to experience a slowdown from 2019 to 2022, although growth is expected to remain high. The report, which was handed to reporters during the 30 August Council of Ministers meeting, shows that the construction […]
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US$295 million investment plans approved for five-star hotels and solar farms
More than US$295 million in investment plans have been approved for the construction of two five-star hotels in Sihanoukville province and two solar farms in Pursat and Kampong Chhnang provinces. The Council for the Development of Cambodia (CDC) gave the greenlight on 29 August to Hai Gang Grand Hotel Co., Ltd to construct a five-star […]
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‘Unique-smart tourist destination’ designated for Bokor mountain by 2035
The government will transform Bokor Mountain in Kampot province into a ‘unique-smart tourist destination’ by 2035 using several development strategies announced via a dissemination workshop on the Land Use Master Plan for the Bokor City Development Project held on 29 August. H.E Chea Sophara, Deputy Prime Minister and Minister of Land Management, Urban Planning, and […]
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Has-architecture wins design competition with 485m MGN tower in Phnom Penh
Architectural firm Has-architecture has won a design competition for the 485m high MGN tower along Norodom Boulevard in Phnom Penh. The MGN tower will be the local headquarters of MGN Bank, an office and a hotel and is set to be the second-highest skyscraper in Cambodia once completed. The global architecture archive website aasarchitecture reported […]
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Deal signed for ‘Dragon City’ development in the 2,500-hectare ING City
A deal between Cambodian and Hong Kong firms to develop ‘Dragon City’ was signed on 27 August, which will turn 5.4 hectares of land in ING City into a commercial complex, according to a press release. Held at the Sofitel Phnom Penh Phokeethra, the deal was signed between Cambodian developer ING Holdings Co., Ltd and […]
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Ministry of Tourism to designate Koh Seh of Kampot as ‘special tourist destination’
The Ministry of Tourism is studying the feasibility to develop Koh Seh in Kampot province as a ‘special tourist destination’ covering an area of more than 500 hectares, following the recent decision by the government to develop special tourist destinations. Ministry of Tourism spokesperson Mr Chuk Chumnor told Construction & Property Magazine on 27 August […]
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Phnom Penh to welcome another Chinese-owned mall by late 2019
Another Chinese-owned community mall, The One Mall, is scheduled to open by December 2019 replacing the old container market nearby Diamond Island, according to an announcement by the project owner on 22 August. Located nearby the Russian Embassy in Sangkat Tonle Bassac, Chamkarmon district, The One Mall will be a 3-storey mall built on 12,000 […]
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