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ខ្មែរ Local News
39-storey building slated for Chbar Ampov district
- 16 September 2019
A US$1 billion 39-storey commercial building is planned to be constructed in Nioth commune, Chbar Ampov district, on the east of Bassac River opposite Koh Pich City. Construction on the Vue Aston building is set to start by the end of 2019 and will be completed by 2022. The building is joint venture between Sino-Cambodia Investment Co Ltd and Mingda International Group. Comprising of a hotel...
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Collection of stamp duty on property transfers increases by 60%
- 13 September 2019
The General Department of Taxation has collected almost US$2 billion in tax revenue over an eight-month period with stamp duty on property transfers seeing the sharpest increase. According to a GDT press release dated 12 September, the department collected US$1,952 million, achieving about 85.33% of the national plan. This shows an increase of about 29.89% compared to the US$449 million collect...
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IMF Research: Increase property tax to advance economic growth in Cambodia
- 10 September 2019
A new research paper funded by the International Monetary Fund (IMF) suggests Cambodia should increase property tax to fund billions of dollars of infrastructure spending, a move that will help advance economic growth. Published on 06 September, the ‘IMF Working Paper: Advancing Inclusive Growth in Cambodia’ analyses how increasing either property tax, VAT, or income tax can secure the funding ...
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New 4-star hotel opens in Kampong Thom province
- 9 September 2019
Kampong Thom Royal Hotel & Restaurant officially opened its doors on 09 September in the heart of Kampong Thom province, adding another 87 rooms to support the tourism sector in the province. Located in Stung Sen city, Kampong Thom Royal was built with US$5 million from Cambodian investors and comprises 87 guest rooms as well as other amenities including conference rooms, a restaurant, club...
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‘Amory 7 Makara’ development phase two plots open for sale
- 9 September 2019
Real estate firm Amory has announced the launch of sales for the second phase of the ‘Amory 7 Makara’ development project over the weekend with around 300 potential customers attending the event, according to their press release. Located along National Highway No 6 to Oknha Ly Yong Phat and links to National Road 5, the ‘Amory 7 Makara’ development project will feature sales of residential buil...
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Economy Ministry: Construction and real estate sector to experience 4-year slow down
- 2 September 2019
The Ministry of Economy and Finance has forecasted that the construction and real estate sectors, the sub-sectors supporting economic growth, are to experience a slowdown from 2019 to 2022, although growth is expected to remain high. The report, which was handed to reporters during the 30 August Council of Ministers meeting, shows that the construction sector is expected to grow at a speed of 1...
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US$295 million investment plans approved for five-star hotels and solar farms
- 30 August 2019
More than US$295 million in investment plans have been approved for the construction of two five-star hotels in Sihanoukville province and two solar farms in Pursat and Kampong Chhnang provinces. The Council for the Development of Cambodia (CDC) gave the greenlight on 29 August to Hai Gang Grand Hotel Co., Ltd to construct a five-star hotel with 900 rooms located in village 06, Sangkat 04, Siha...
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‘Unique-smart tourist destination’ designated for Bokor mountain by 2035
- 29 August 2019
The government will transform Bokor Mountain in Kampot province into a ‘unique-smart tourist destination’ by 2035 using several development strategies announced via a dissemination workshop on the Land Use Master Plan for the Bokor City Development Project held on 29 August. H.E Chea Sophara, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction, made a call fo...
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Has-architecture wins design competition with 485m MGN tower in Phnom Penh
- 28 August 2019
Architectural firm Has-architecture has won a design competition for the 485m high MGN tower along Norodom Boulevard in Phnom Penh. The MGN tower will be the local headquarters of MGN Bank, an office and a hotel and is set to be the second-highest skyscraper in Cambodia once completed. The global architecture archive website aasarchitecture reported that Has-architecture, together with local...
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Deal signed for ‘Dragon City’ development in the 2,500-hectare ING City
- 28 August 2019
A deal between Cambodian and Hong Kong firms to develop ‘Dragon City’ was signed on 27 August, which will turn 5.4 hectares of land in ING City into a commercial complex, according to a press release. Held at the Sofitel Phnom Penh Phokeethra, the deal was signed between Cambodian developer ING Holdings Co., Ltd and Hong Kong-based Causeway Bay Group together with SINO BAY Construction Investme...
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