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ខ្មែរ Local News
Urban Village Signs MoU with GRA to Boost Sales Amid COVID-19
- 15 September 2020
Urban Village signed a memorandum of understanding with the Global Real Estate Association (GRA) on 14 September to strengthen its sales amid the COVID-19 crisis. Founder and CEO of Urban Village Real Estate Development Company Mr Ben Li told Construction & Property Magazine that, “The MoU will allow GRA to focus on Urban Village Condo Sales and Urban Village will support GRA on events.” ...
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HLH Group Acquires 1.2-hectare Plot in Toul Kork for New Mixed-Use Development
- 14 September 2020
Public Housing Development (Cambodia), a subsidiary of real estate firm Hong Lai Huat (HLH) Group, has inked a deal with Lao Channara to acquire a 1.2-hectare land plot in Toul Kork district for its new mixed-use development. According to The Business Times, the two firms entered an agreement on 11 September, with a purchase price of US$22.5 million. Hong Lai Huat group said that this deal i...
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How Will Capital Gains Tax Affect the Real Estate Market in Cambodia?
- 11 September 2020
The implementation of the 20% captain gains tax starting from January next year has become a controversial debate in Cambodia following the announcement last month, especially within the real estate sector (Read more). Some have claimed that the tax is way too high and is not the right time amid the COVID-19 crisis. Others have said it is an effective way to control unregulated inflated propert...
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Kampot Administration Process Land Acquisition to Long-term Occupants in Bokor National Park
- 10 September 2020
The Kampot Provincial Administration is currently reviewing the applications and will soon gift land to those eligible long occupants in Bokor National Park, according to the work progress meeting on 09 September. Undersecretary of State at the Ministry of Environment HE Saut Yea said in the meeting that land ownerships would be granted only to those who are eligible. “Before granting the la...
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Vann Molyvann’s house could become yet another skyscraper, expert warns
- 10 September 2020
Photo by: Courtesy-of-IPS-Cambodia With the absence of preservation law and high land price, the unique house of renowned Khmer architecture Vann Molyvann might be torn down and replaced with a skyscraper, experts warns. According to Bloomberg CityLab article on September 9, his house is currently listed for sale at US$7 million. Since there has no law or regulation to reserve that house ...
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362 Officials Assigned to Oversee Nationwide Implementation of Construction Law
- 7 September 2020
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has appointed 362 officials to oversee the implementation of the construction law, including inspecting, monitoring, and investigating all construction developments nationwide. The special team, including those from the national and sub-national levels, were appointed following Prakas No 141 dated 04 September 2020. Their...
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Winners Announced for PropertyGuru Cambodia Property Awards 2020
- 5 September 2020
Winners of the PropertyGuru Cambodia Property Awards 2020 were announced at the Gala Dinner last night at Sofitel Phnom Penh Phokeethra, where International Holding (Cambodia) Ltd. emerged the biggest victor. Presented by Hitachi Elevators & Escalators, more than 30 trophies and nearly 25 Highly Commended distinctions were presented to almost a dozen companies, representing the best of the ...
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Evaluation and Immovable Service Businesses Must Obtain Certificate or License
- 3 September 2020
By law, all businesses in Cambodia must be registered and pay taxes. Similarly, businesses providing evaluation services and immovable services also require a professional certificate or business license from the Ministry of Economic and Finance. An evaluation service conducts an appraisal to determine the value of an asset and its benefits located or attached to it. Meanwhile, immovable servic...
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Low Sales Rate Hits Phnom Penh Condominium Market
- 31 August 2020
By Eric Wong Chon Lap With record units of residential properties available to the public in Phnom Penh, sales rates have fallen to a new low, with many empty homes in Phnom Penh which are mostly unsold or without residents. Due to COVID-19, we can foresee the postponement of new launches and discounts on unsold units which will hit the real estate sector hard. Some developers have postponed...
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5th PropertyGuru Cambodia Property Awards to be held on Sept 4
- 31 August 2020
The organisers have made the responsible decision of postponing the 5th PropertyGuru Cambodia Property Awards’ black-tie gala dinner and awards presentation, previously set for June, to ensure the safety and health of guests, venues, and staff members. Cambodia’s leading annual real estate gala event will now be held on Friday, 4 September 2020 at the Sofitel Phnom Penh Phokeethra. The resch...
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