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ខ្មែរ Local News
UK-based hotel chain to open in Cambodia
- 19 July 2019
Yoo Hotels and Resorts based in the United Kingdom has revealed plans to open a hotel chain in Cambodia in response to rising tourist numbers in the country. Entitled the ‘Yoo2 Lifestyle Brand’ project, the British Yoo Hotels and Resorts will expand branches in Southeast Asia in the next three to five years. The project will be the first of its kind in Cambodia, according to Hospitality Net. ...
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Construction investment value increases more than 57% in H1 2019
- 18 July 2019
The value of investment in the Cambodian construction sector reached more than US$3 billion in the first six months of 2019 driven by residential and commercial projects, according to the Ministry of Land Management Urban Planning and Construction (MLMUPC) latest figures. As of June 2019, the ministry approved 2,047 construction projects with an estimated investment value of more than US$3.3 bi...
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Land prices in Sihanoukville skyrocket by over 90% in six months
- 17 July 2019
Land prices in Sangkat 3 and Sangkat 2 of Sihanoukville has risen sharply by more than 90% and more than 15% respectively in the first six months of 2019, according to a recent report released by real estate firm Key Real Estate. With strong development in Sihanoukville, prices of land in Sangkat 3 rose sharply by 90.9% in the first six months of 2019 compared to the same period in 2018, an inc...
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Special Offer! Discounts of up to 7% for all projects from Chip Mong Land
- 17 July 2019
Phnom Penh: Chip Mong Land is offering a special opportunity with a discount of up to 7% to its customer on all residential projects from 01 July 2019 onwards. Chip Mong Land, one of the largest and most well-known real estate development companies in Cambodia, currently holds eight mega-luxury residential projects comprising of LandMark 271, Land Mark 60M, Park Land Sen Sok, Park Land 598, Par...
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CRBC completes financial close for US$1.8 billion expressway
- 17 July 2019
China Road and Bridge Corporation (CRBC) has closed financing on a US$1.8 billion expressway project in Cambodia. The financial close of the project was made for the 190-km expressway connecting Phnom Penh capital to the country’s deep seaport Preah Sihanoukville province in March this year. Global law firm Hunton Andrews Kurth provided CRBC with financial counsel on the public-private partn...
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HYPOTHEC: THE MOST COMMON USED ENCUMBRANCE IN CAMBODIA
- 13 July 2019
by Sciaroni & Associates, Unofficial translated by Construction & Property Magazine Since the introduction of the Civil Code of the Kingdom of Cambodia in 2007, a hypothec has been known as one of the most commonly-used encumbrances for securing an obligation. This short article will briefly discuss the general overview of hypothec, its advantages as well as how to perfect a hypothec ag...
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Condominium Development Shifts to Affordability After Decrease in Roi on High-end
- 11 July 2019
The development trend in the Phnom Penh condominium market has now shifted toward the affordable segment following a decrease in return of investment on the high-end segment which industry insiders believe is a positive sign for the market. According to the recent Q2 2019 Phnom Penh Market Update report by international real estate agent CBRE Cambodia, eight new condominium projects totaling 5,...
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Indonesian Government Raises Price Threshold for Tax on Luxury Properties
- 10 July 2019
Photo by Facts of Indonesia In an effort to boost its real estate industry, the government of Indonesia is raising the price threshold of luxury sales tax on residential property. In a reversal of recent policies, a levy of 20 percent will apply to buyers of luxury residential units worth US$2.1 million or more in a departure from housing policies instituted a few years ago when the tax thre...
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Prince Real Estate Selects Cambodia as Strategic Base for Southeast Asia
- 8 July 2019
Photo by Prince Real Estate Group (Cambodia) After establishing a strong presence in the Cambodian market, Chinese property conglomerate Prince Real Estate Group has announced that it has selected Cambodia as a strategic base to achieve its ambition of becoming one of the most influential transnational groups in Southeast Asia. The announcement was made on 06 July 2019 when the company inaug...
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Swiss Based Company Plans to Develop Us$40 Million Hospital in Cambodia
- 5 July 2019
In response to national economic growth and demand for good healthcare, Swiss-based companies revealed plans to develop a hospital in Cambodia during a meeting between representatives of the companies and the head of the Cambodian government in Geneva, Switzerland. According to Prime Minister Samdech Techo Hun Sen's Facebook post, six international companies have expressed their interest in inv...
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