Business and Market
How Developers Thrive for Survival After the Market was Hit Hard
By Eric Wong Chon Lap Property developers are thriving for survival after the market was hit hard by circumstances such as the oversupply of residential units in the market, the outflow of foreign investments and the COVID-19 pandemic. Promotional campaigns became a necessity when the desired sales rates faded away. As a result, developers are […]
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10% of Hotels in Siem Reap Open, Yet to See Profit
Around 10% of hotels in Siem Reap are now open for operation, however, none of them are able to earn a profit, according to the president of Hotel Association of Cambodia, Siem Reap Branch. David Jaya PIOT, President of the Cambodian Hotel Association in Siem Reap, was quoted in AKP on 27 October that due […]
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Chinese Aviation Firm Mulls Investing in Cambodia
The State Secretariat of Civil Aviation has recently requested AVIC International Holding Corporation to provide technical assistance for human resource training in the civil aviation sector. In the meantime, the firm is also mulling investing in the aviation sector in Cambodia. The request was proposed during a meeting between the company’s general manager Ted Chen […]
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Cambodia-Singapore Draft Agreement for Phnom Penh Logistics Centre Project
The draft agreement between the Ministry of Public Works and Transport (MPWT) and Singaporean firm YHC to build a Logistics Centre in Phnom Penh, has been completed. Both parties are currently reviewing the content before moving to the next stage. MPWT Minister HE Sun Chanthol said during the meeting with the Ministry of Economy and […]
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Construction of Koh Nora Satellite City 27% Complete
The development of the multi-million dollars Koh Nora satellite city is 27% complete and has been contributing over US$ 225 million or approximately 0.9% to the kingdom’s GDP annually in the past three years, according to OCIC Chairman Neak Oknha Pung Kheav Se. Neak Oknha Pung Kheav Se said that during the groundbreaking ceremony of […]
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Let’s Find Out! EP49: Real Estate Market Update in Q3
The Phnom Penh Real Estate Market in Q3 of 2020 remains under pressure from the COVID-19 pandemic. However, compared to other neighbouring countries, the Cambodian market shows the most significant recovery steps. What is the overview of the real estate market in the third quarter?
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KrisEnergy Receives Loan to Secure Scheduled Oil Extraction in Cambodia
KrisEnergy has reached a loan agreement with Kepinvest Singapore to secure oil extraction offshore of Cambodia as planned before the end of this year. According to the firm’s recent announcement, the US$87-million loan will be divided into two parts, with US$30 million to be used for facility A and another US$57 million to be used […]
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Advertorial: ISI STEEL Offering Over 600 Rewards Every Month
ISI STEEL is offering over 600 rewards every month via a scratch-to-win program for customers who purchase ISI PALM, ISI PIPE and ISI STEEL. Those who purchase any of the two products to a value of US$200 upward will get a scratch-off lottery ticket, valid from today until the rewards are out of stock. The […]
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Hyatt Regency Phnom Penh GM Confirms Q1 2021 Opening Date
Hyatt Regency Phnom Penh General Manager Herman Kemp has confirmed that the hotel will finally open in the first quarter of 2021, after a period of delay due to the impact of the COVID-19 pandemic. According to Mr Kemp, as of today, the construction is 100% complete, and currently, the team is working on all […]
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GDT to Strengthen Property Tax Collection Amid 3.5% Tax Revenue Growth in Q3
The General Department of Taxation (GDT) will continue to strengthen property tax collection. This news comes as tax revenue in Q3 2020 has risen to over US$2 billion, according to the GDT quarter report on 12 October. The tax revenue collected by GDT has reached US$2.2 billion or equal to 78.1% of the annual plan. […]
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