Property Focus
Chinese bankrupt Evergrande sells 30% stake to state-owned company to pay off debt
In response to the complex dynamics in China’s property sector, Evergrande, the globally renowned real estate developer, has taken a strategic step by selling its 30% stake in the Shanghai North Bund Project to state-owned China Everbright Group. The move, disclosed in a statement to the Hong Kong Exchange, is valued at 663.15 million yuan […]
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Real estate exemplars succeed at the 18th PropertyGuru Asia Property Awards Grand Final
GUOCOLAND WINS BEST DEVELOPER (ASIA) WHILE DEVELOPERS FROM INDONESIA TRIUMPH WITH THE MOST REGIONAL WINS BANGKOK, Thailand — PropertyGuru Group (NYSE: PGRU) today announced the winners of the 18th Annual PropertyGuru Asia Property Awards Grand Final, presented by Kohler and supported by Dongpeng Ceramic and Subzero Wolf, at The Athenee Hotel, a Luxury Collection Hotel, […]
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Marum Estate Grabs Dual Honours at 18th PropertyGuru Asia Property Awards Grand Final 2023
Setting a Benchmark for Excellence in Real Estate Innovation and Quality Marum Estate, developed by Sir Stamford Raffles (Cambodia) Co. Ltd., emerged triumphant at the esteemed 18th PropertyGuru Asia Property Awards Grand Final. This gala event, held at The Athenee Hotel in Bangkok, Thailand, celebrated Marum Estate’s distinction in two significant categories: Best Residential Development […]
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Gov’t Allocates Over 91 Hectares of Land from Forest Cover in Kampot Province to Private Ownership
The Cambodian government has earmarked a substantial 91,540 hectares of land in Changkon village, Sangkat Prek Thnaot, Bokor city, Kampot province. This transformative decision, outlined in Sub-Decree No. 240 signed on 9 August 2023, designates this area, once part of the forest cover, for private ownership under the stewardship of Mr Heng Sour. The land […]
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ISI Park Veng Sreng: A Transformative Oasis Unveiled by ISI Group & Urbanland
In a spectacular unveiling, ISI Group and Urbanland set the stage for a new era in urban development with the official launch of ISI Park Veng Sreng. The culmination of over 25 years of visionary progress, ISI Park Veng Sreng emerges as a cutting-edge mixed-use business and lifestyle hub, promising to redefine the landscape of […]
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New Zealand Extends a Helping Hand: Injects Over US$ 3 Million in Demining Assistance for Cambodia
New Zealand has pledged an additional US$ 3.1 million for the fourth phase of Cambodia’s demining project. The financing agreement, symbolizing this commitment, was formalized at a signing ceremony between the United Nations Development Program (UNDP), represented by Ms. Alissar Chaker, UNDP Country Director for Cambodia, and the Ministry of Foreign Affairs and Trade of […]
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Chinese Police Initiates Probe into Zhongzhi Bankruptcy with US$60m Debt
In a significant turn of events, Beijing police have officially launched an investigation into Zhongzhi, a colossal financial conglomerate, following its recent descent into debt and subsequent bankruptcy. This is according to the publication of Hong Kong media The Standard published on 26 November 2023. Despite its low profile, Zhongzhi has played a pivotal role […]
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USAID Pledges US$24M to Propel Biodiversity and Conservation Initiatives in Cambodia
USAID unveils a groundbreaking five-year project, injecting US$24 million into safeguarding biodiversity and natural resources while enhancing the well-being of Cambodian communities. The official announcement was made through a USAID press release on December 4, 2023. Through the “USAID Conservation” project, the focus is on empowering communities to spearhead initiatives that create local employment opportunities […]
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Gov’t Designates Four Areas as Techo Historical Heritage for Cultural &Tourism Development
The Cambodian government has officially designated four areas, collectively known as the Techo Historical Heritage Area, in Sub-Decree No. 155 dated 11 July 2023. These areas encompass the Military Historical Area within the 3rd, 4th, and 5th Military Zones, along with the Anlong Veng Historical Area. The primary objective behind this designation is to ensure […]
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Cambodia Unveils Strategic Tax Incentives Propelling Economic Growth Across Key Sectors
The Cambodian government has rolled out a series of tax incentives, particularly in the real estate sector, showcasing a commitment to fostering business resilience and invigorating the national economy amidst the COVID-19 pandemic. The real estate industry, a pivotal driver of Cambodia’s economic recovery, enjoys exemptions from property tax in selected areas, coupled with a […]
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