Property Focus
New Government Regulations Set Property Tax Procedures & Rates
The Ministry of Economy and Finance has announced new regulations governing the management of property tax collection in Cambodia, setting a fixed rate of 10% of total real estate rental fees. This proclamation is outlined in Prakas No. 169 MEF.PrK.PD dated 20 March 2024, aims to streamline property tax procedures and ensure fair taxation across […]
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Singapore New National Plan Commits Over US$15 million on Scholarships for 15,000 Top Students to Study AI Technology
Singapore has unveiled an ambitious plan to bolster its global standing in business and innovation by injecting more than S$1 billion, equivalent to over US$743 million, into artificial intelligence (AI) initiatives over the next five years. The announcement came as part of Singapore’s 2024 National Budget, demonstrating a strategic push towards technological advancement and economic […]
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Gov’t Forms Task Force to Combat Illegal Land Seizures in Targeted Provinces
The Government of Cambodia has taken decisive action to combat illegal logging, land clearing, and forest land encroachment in several provinces by establishing a National Committee through decision No. 19 pillar dated 22 January 2024. Chaired by the Minister of Agriculture, Forestry and Fisheries, the 13-member National Committee is tasked with assignments including: Prepare and […]
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China’s Property Investment Sees 9% Decline in First Two Months, Still Down but Slower than 2023
Property investment in China witnessed a 9% year-on-year decline in the first two months of 2024, a notable improvement from the 24% fall recorded in December 2023, according to data from the National Bureau of Statistics (NBS). Similarly, property sales by floor area experienced a 20.5% slide in January-February compared to a year earlier, showing […]
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Grand Opening of Borey Peng Huot’s The Star Platinum Epo Poly Project on 23-24 March 2024
Borey Peng Huot Company marked a significant milestone on March 23, 2024, with the official opening of its latest project, The Star Platinum Epo Poly, situated within the Grand Star Platinum (Boeung Sno) development in Chbar Ampov district. The event drew a substantial crowd of eager attendees, both existing and prospective customers, keen to explore […]
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China-Cambodia Satellite Collaboration Enhances Protected Area Management
China’s Siwei Surveying and Mapping Technology Co., Ltd is poised to forge a groundbreaking partnership with Cambodia’s Ministry of Environment (MoE), aiming to revolutionise the management, conservation, and protection of protected areas and forests through satellite technology. This significant development emerged from a productive meeting between Dr Eang Sophalleth, Minister of Environment, and Mr Zhang […]
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SSEZ Records 38% Surge in Trade Volume, Reaching US$628m in Two Months
In a remarkable surge of economic activity, the Sihanoukville Special Economic Zone (SSEZ) has reported a staggering trade volume of US$628 million in the first two months of 2024, marking a significant 38.3% increase compared to the corresponding period last year. This notable achievement underscores the SSEZ’s pivotal role as a thriving hub for international […]
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France Urges Preservation of Ancient Iron Ore Site in Preah Vihear Province
In a significant move to safeguard Cambodia’s historical legacy, experts from the French Institute of the Far East have called upon the Ministry of Culture and Fine Arts to preserve an ancient iron ore site discovered in Chep district, Preah Vihear province. HE Dr Pheung Sakona, Minister of Culture and Fine Arts, revealed this development […]
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China’s Minister of Housing: No Bailouts for Struggling Developers, Some Property Developers Can Go Bankrupt If Necessary
In a pivotal move to address the enduring crisis in China’s real estate sector, the government has unequivocally rejected the rescue of financially beleaguered property developers, emphasising the adherence to market laws and principles. The announcement, reported by NBC New York on 11 March 2024, underscores China’s commitment to rectifying the real estate market’s dysfunction […]
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MoE’s Swift Action: 3,942 Hectares Seized in Pursat Crackdown
In a decisive move to combat natural resource crimes, the Ministry of Environment (MOE) led a five-day operation resulting in the confiscation of 3,942.73 hectares of land in Pursat province. The crackdown, conducted from 13 to 17 March 2024, marks a significant stride in curbing illicit activities impacting the region’s environmental integrity, as reported by […]
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