Southern Phnom Penh a future country’s new economic corridor, says CBRE
CBRE Cambodia has forecasted that the southern districts of Phnom Penh and several neighboring districts of Kandal province will soon become the country’s new economic corridor, encompassing future residential, commercial, and industrial activity. According to its recent report, the Capital’s most southern districts namely Dangkao and Mean Chey, as well as Takhamo City, Kandal Steung […]
Read More
Government Dismisses Report of Lower Se San II Project Impacts
The Cambodian government has dismissed the Human Rights Watch’s report on the impacts of the Se San II dam, citing that dam development brings prosperity to people’s living, generates jobs, and generates electricity. The remarks were made after the Human Rights Watch issued the 137-page report noting the social, economic, environmental, and wildlife impacts, and […]
Read More
Mortgage Applications Drop by 32% in Q2; Value Shrinks 17%
The number of mortgage loan applications in the second quarter of 2021 dropped by 32% while the total loan value also decreased by 17%, compared to the first quarter of the same year, according to a recent report by the Credit Bureau Cambodia (CBC). The same reported added that as of June 2021, the number […]
Read More
Is the Overheating Property Market Bad for the Economy?
An economist from the Royal Academy of Cambodia HE Ky Sereyvath has expressed concern that overheating growth in the real estate sector no longer benefits the local economy and will eventually push housing prices beyond the purchasing power of the local population. HE Ky Sereyvath made the statement during an interview with RFI earlier this […]
Read More
Cambodia Lowers Growth Forecast to 2.5% for 2021; Property Sector Remains Uncertain
Cambodian Prime Minister Samdech Hun Sen has lowered the kingdom’s forecasted economic growth from 4% to only 2.5% this year, due to the severe impact of the COVID-19 pandemic. Samdech Hun Sen explained that this growth will be mainly supported by the agricultural sector as the export of agricultural products has increased more than expected. […]
Read More
Regional Commercial Real Estate Investment Begins to Recover in H1
Despite the disruption of COVID-19, commercial real estate has seen a recovery during the first half of 2020, with investment in Asia Pacific commercial real estate reaching US$83.5 billion, a 39% year-on-year growth. This growth has brought the figure close to pre-pandemic levels, according to the real estate firm JLL. Volumes from January to June […]
Read More
Number of Construction Projects, Value & Area in H1 Dropped by 11.4% 34.3% & 29.9% Respectively
The number of construction projects, the investment value, and total area approved in H1 2021 have decreased by 11.4%, 34.3%, and 29.9% respectively, compared to the same period last year, according to a recent report from the National Bank of Cambodia (NBC) The report added that the drop predominantly stems from the slowdown in tourism […]
Read More
Consumer Loans Rise to Over US$33bn as of H1, Construction & Property Attributed 31%
As of H1of 2021, consumer loans in the banking sector have increased to over US$33.9 billion, 31% which were attributed to the construction and property sectors, according to the recent report of the National Bank of Cambodia (NBC). Among all the personal home loans, construction, and real estate activities accounted for 13.1%, 9.5%, and 8.4%, […]
Read More
Over 360k Loan Accounts Worth US$5.5bn Restructured as of H1, Construction Sector Attributed 15%
From 2020 to H1 2021, banking and financial institutions have restructured a total of 367,239 loan accounts or equivalent to over US$5.5 billion in value, 15% of which were assigned to the construction sector. According to a report from the National Bank of Cambodia, there were a total of 32,636 restructured loan accounts in the […]
Read More
CBRE: Property Market Still Facing High Degree of Uncertainty Despite Vaccine Roll-Out
The real estate market in Cambodia remains under pressure and is still facing a high degree of uncertainty despite the very impressive vaccine roll-out by the government, with experts not expecting to see a recovery this year. According to the CBRE Cambodia 2021 Mid-Year Review Webinar yesterday, all four main sectors of the property market […]
Read More