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ខ្មែរ Local News
Land Ministry HQ to Move to New Location This Month, Ahead of Official Inauguration
- 3 March 2021
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) headquarters will move to a new location in Sen Sok district on 15 March, while the official inauguration will take place in April as planned, according to the Ministry’s announcement on the morning of 03 March. The ministry will relocate from Monivong Blvd in Sangkat Boeung Trabek to the new location on Street 307 in Sen...
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Raising Property & Wealth Tax Could Speed Up Pandemic Recovery, says ADB Blog
- 3 March 2021
Cambodia and other countries in the Asia-Pacific should raise tax collection, in particular on the tax on property and wealth, to speed the economic recovery once the pandemic ends, according to the Asian Development Bank (ADB) blog. In the article entitled ‘How governments can use tax policy to speed pandemic recovery’, the authors suggested that taxing the wealthy, many of whose incomes have ...
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Property Price-Income Ratio in Cambodia Falls by 6.58%: US Report
- 2 March 2021
Property prices compared to incomes in Cambodia have decreased by 6.58%, which is the highest drop compared to other countries in the list amid the pandemic, according to a report from US healthcare firm Aetna. The report added that, even with this large fall, the property price and income ratio in Cambodia in mid-2020 remained relatively high at 39.8, the second-highest after Hong Kong at 43.5...
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NagaWorld Temporarily Suspends Operations after 11 Employees COVID-19 Positive
- 2 March 2021
NagaCorp announced on Monday 01 March that the firm has voluntarily suspended operations after 11 of their staff tested positive for COVID-19. According to the firm’s announcement, 3000 employees were tested by the Ministry of Health (MoH) on 27 February, and 11 were found positive. The main objective of the suspension is in response to the recent surge in community transmission or known as ...
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Hotel Industry Outlook in Siem Reap Remains Gloomy
- 26 February 2021
By Eric Wong Chon Lap The ongoing COVID-19 pandemic has devastated the hotel industry, and it looks like the slump will continue until the end of 2021. Leisure travel is only expected to return once vaccinations become more widespread. For cities like Siem Reap or Sihanoukville, their hotel industries are being hit harder compared to Phnom Penh. In Phnom Penh, high-end hotels are gearing up ...
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Hotels in Sihanoukville Ordered to Close After Two Cases Found Linked to 20 February Incident
- 24 February 2021
Four hotels and one apartment block in Sihanoukville have been ordered to close after two Chinese guests tested positive for COVID-19 and found to be linked to the 20 February community outbreak. According to an announcement by the Sihanoukville Administration's on 23 February, the hotels locked down are the three branches of Jin Bei Hotels, the Gang Guan Jiayi Hotel, and a staff apartment of t...
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U.S. Seeing More International Buyers Snap Up Great Deals
- 20 February 2021
Foreign Real Estate Transaction Trends in the United States International buyers of U.S. residential real estate account for a significant 5% of total residential real estate purchases, with top geographies for international buyers including Florida, California, Texas, New Jersey, and New York. The average price foreign buyers pay for a U.S. home is $300,000, which many buyers have found highly...
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Large-Scale Borey to Rise in Prey Sar, Dangkor District
- 19 February 2021
Advertorial: Borey Peng Im 2 has been officially launched and opened for sale from 19 February onward, adding more residential supply to the newly-developed area of Dangkor district. Spread over 3 hectares, the project comprises of 245 houses, divided into three types: shop house, hybrid villa type B, and type C. According to the project manager Mr Pen Nak, investing in property with...
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Malaysian, Japanese Partnership Bag US$41million EDC Contract to Develop Phnom Penh Power Infrastructure
- 18 February 2021
PESTECH Sdn Bhd partnered with a Japanese firm Furukawa Electric Co Ltd recently secured a contract from Electricite du Cambodge (EDC) to implement two power transmission projects in Phnom Penh worth over US$41 million. According to an announcement by the firm, the contract is for two major projects including the Phnom Penh City transmission and distribution system expansion project phase 2 (I)...
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CBRE Cambodia Hosts Annual Flagship Event Fearless Forecast 2021
- 17 February 2021
CBRE Cambodia held their annual flagship event Fearless Forecast 2021 on the morning of 17 February at the new Hyatt Regency Hotel in Phnom Penh with an approximate 200 people attending. Managing Director of CBRE Cambodia James Hodge said, “Many sectors are facing a period of limited demand and increasing supply which will continue to pressure rents and prices over the medium term. COVID-relate...
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