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ខ្មែរ Local News
Chinese developer pledges continued investment in Cambodia
- 21 January 2020
China-based property developer Prince Real Estate Group (Cambodia) has pledged to continue investing in the Cambodia real estate market in 2020, after investing billions of dollars in more than ten projects in Cambodia last year. The ten major projects by Prince Real Estate Group in 2019 cover a total area of 1,876 hectares nationwide; six in Sihanoukville, and four in Phnom Penh, AKP reported ...
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All Eyes on Russian Boulevard
- 15 January 2020
By Eric Wong Chon Lap A wide road, colleges and universities, a series of upcoming office buildings and other amenities, close proximity to Phnom Penh International Airport and easily accessible to all the major thoroughfares – these are all the right ingredients to make Russian Boulevard among the most sought-after locations for commercial and residential developments in Phnom Penh. It’s attr...
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Operating a hotel through a lease agreement or a hotel management agreement
- 12 January 2020
When deciding to develop and operate a hotel, the parties may enter into a lease agreement or a hotel management agreement. Both have advantages and inconveniences. A study of the Cambodian market indicates significant growth in the number of tourists visiting Cambodia, leading to a significant development of the hospitality sector in Phnom Penh, Siem Reap and Sihanoukville. Emblematic of this...
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Park Land 50M Opens For Sale With Offer 8% Discount
- 8 January 2020
Phnom Penh: Chip Mong Land will open for sales its Park Land 50M project on 18 to 19 January 2020 with offering a special discount of 8 percent and 100 percent instalment. The Park Land 50M project is located at the corner of street 50M and street 30M in Chamkor Duong area which is an economic potential zone and fast development. The project is just 2 minutes away from Chamkar Doung market,...
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Cambodia’s economic growth expected to reach 7% in 2020
- 3 January 2020
Cambodia's economic growth is projected to reach around 7% by 2020 due to growth in exports, foreign investment inflows, tourism, and construction and real estate, sectors which are expected to enjoy continued growth. In a macroeconomic and banking progress outlook for 2019 and 2020 released on 02 January, the National Bank of Cambodia projects that economic growth will be based on a forecast o...
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Experts: Luxury hotel closures related to internal issues
- 2 January 2020
A number of four-star and five-star hotels have recently announced the closure of their businesses citing economic reasons for their demise. Tourism experts have said that business closures are not a bad sign for tourism in general. The 23-year-old former Inter-continental in Phnom Penh -The Great Duke Hotel - announced the closure of its operations on 31 December with an economic downturn cit...
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CDC approves investment projects worth close to US$2 billion
- 26 December 2019
The Council for the Development of Cambodia (CDC) has approved investment projects in the sectors of energy, retail, tourism, and commercial buildings with a total investment close to US$2 billion. According to a CDC press release on 25 December, it approved investment projects for a hotel and a commercial building. BOCC Development Co Ltd will invest US$1,181 million on building a five-star...
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Land Management Ministry to collect revenue from electronic cadastral information service
- 25 December 2019
The Ministry of Land Management, Urban Planning and Construction will collect revenue from an electronic-based cadastral information service, for which the revenue will be registered as income for the national budget. According to the inter-ministry prakas on providing electronic-based cadastral information service dated on 24 December, the procedure for collecting income will be announced late...
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Phnom Pen-Bavet Expressway Gets New Study
- 20 December 2019
Ministry of Public Works and Transport has unveiled that China Railway Corporation is conducting a study on the Phnom Penh-Bavet Expressway project in detail for making result report which will be submitted to the government to consider for investment. The study for detail has been made after the ministry and the Chinese company signed a framework agreement on the project recently, H.E. Sun Cha...
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Investors Shift Interest to Properties Outside Phnom Penh
- 20 December 2019
By Eric Wong Chon Lap In Phnom Penh, developers have been focusing on launching new housing and condominiums over the past years. So far, there are over 15,000 units in the city from condominium developments launched between 2016 and 2018. One major challenge faced by the housing and condominium markets is that the cost of investment has increased along with the hike in land prices in Phnom ...
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