Local News
Housing loans affected by COVID-19 granted relief
Home improvement loans and housing loans are among the loans that are being granted relief through loan restructures from banks and microfinance institutions (MFIs). The directive aims to ease the burden of loan borrowers whose incomes are reduced and have difficulty paying back due to the COVID-19 pandemic. In a directive statement issued on 27 […]
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Government orders temporary closure of beer gardens to prevent COVID-19 spread
The Royal Government of Cambodia has ordered a temporary closure of all beer gardens throughout Cambodia, starting from 25 March 2020 until further notice to prevent the spread of the COVID-19 pandemic. According to a statement from H.E. Dr Thong Khon, Minister of Tourism to provincial governors on 25 March 2020, “In accordance with Samdech […]
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Sihanoukville’s economic crisis a painful adjustment toward sustainable development
Sihanoukville, once dubbed the Macao of Cambodia, is currently facing a crisis. Unfinished construction projects are scattered everywhere around the city; numerous local citizens have been left unemployed; and most noticeably, there has been a massive decline in property rental price, leaving many house owners in debt. These issues have been mainly caused by the […]
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Cambodia will need 50,000 houses per year
Cambodia will need around 50,000 houses a year in order to supply the growing population, according to researchers’ predictions. “At present, we are responding to the housing supply for the private sector by constructing houses to fulfill the needs of the people,” said H.E. Seng Lot, Ministry of Land Management spokesperson, at a press conference […]
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EuroCham hosts breakfast talk on investment opportunities in the real estate sector
EuroCham hosted a breakfast talk on Investment Opportunities in the Non-residential Real Estate Sector, including the impact of COVID-19 and EBA removal on the sector on 12 March 2020 at Topaz Restaurant, Phnom Penh. A wide range of key potential areas of the Non-residential Real Estate Sector was discussed during the event including construction safety, […]
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83 hectares of Beoung Ta Mok granted to Phnom Penh Municipality
Beoung Ta Mok (Beoung Khob Srov), a vast water area of 83 hectares in the northwest of the capital was granted to Phnom Penh Municipality to be developed as a national garden and public park. The municipality also plans to develop other infrastructure such as the buildings of the Central Department of Security of the […]
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Government approves Great Duke Hotel as COVID-19 inpatient hospital
According to an announcement by the Cambodian Ministry of Health, the Great Duke Hotel, formally known as the Intercontinental Hotel, will be used as an emergency hospital for treating Covid-19 patients. The transformation of this central Phnom Penh hotel into a hospital was agreed by government ministries and the governor of Phnom Penh. The purpose […]
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50% discounts in Siem Reap after government advice
A five-star hotel in Siem Reap has announced a 50% discount from March to May on its services in response to the impact of the Coronavirus, or Covid-19, on tourism. The announcement came after Siem Reap provincial authorities called on all hotel owners in the Siem Reap area in early March 2020 to consider reducing […]
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AI to develop real estate sector in Cambodia
Artificial intelligence, commonly known as AI, will soon take over and promote the real estate sector in Cambodia. The future of AI in the Cambodian real estate industry is about to be realized following the signing of a Memorandum of Understanding between Z1 Data Co., LTD (Cambodia), a company that uses artificial intelligence (AI) to […]
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Neak Oknha Pung Kheav Se boosted Cambodia’s construction sector with US$5 billion and more to come
In a bid to develop Cambodia’s economy, one of the kingdom’s leading businessmen, Neak Oknha Pung Kheav Se, has invested around US$5 billion on various projects over the years. In a recent exclusive interview with Construction and Property Magazine, Neak Oknha Pung Kheav Se said the Canadia Group businesses are currently divided into two segments […]
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