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ខ្មែរ Local News
MLMUPC Minister Orders Shutdown on Recognition of Unregistered Property Transfers
- 20 August 2018
Minister of the Ministry of Land Management Urban Planning and Construction (MLMUPC) H.E Chea Sophara has ordered the respective authorities to stop checking and certifying property transfer documents that have not been recognised by the cadastral office, according to a document obtained by Fresh News dated August 16, 2018. As stated in the document, the move came as a result of increasing numb...
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PM Hun Sen Urges an Increase in Stamp Duty
- 18 August 2018
Photo by Chiangrai Times In a visit to garment workers on Wednesday 15 August, Prime Minister Samdech Techo Hun Sen urged the Ministry of Economy and Finance (MEF) to revise the country’s ‘stamp duty’, or property transfer tax, saying the current tax is too low. Citing the increase of land prices as a result of political and economic stability, Prime Minister Hun Sen called on H.E Kong Vibol...
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Royal Group, Leading Singapore Firm Join for Mixed-use Development
- 17 August 2018
Singapore property developer Hong Lai Huat signed a memorandum of understanding (MOU) with Cambodia’s largest conglomerate The Royal Group on 13 August to jointly develop a mixed-use development in Phnom Penh, according to the official press release. The planned mixed-use development is to be located on a freehold plot of land of approximately 8,221 square metres in Phnom Penh’s prestigious Tou...
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Triumph Commercial Centre Opens Sales Office
- 14 August 2018
The sales offce for the Triumph Commercial Centre (TCC) located in Boeng Salang Village, Sangkat Russey Keo, Russey Keo District, Phnom Penh officially opened on August 12, 2018. Owned by Chinese property developer Yunnan Shengmao Investment (Cambodia) Co., Ltd, the TCC will cost around US$1 billion to build according to the company’s director Mr Chen Tai An. Mr Chen Tai An explained that t...
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Glory Flame Holdings plans construction and real estate expansion into Cambodia
- 13 August 2018
Sample project plan of Glory Flame Hong Kong-based construction company, Glory Flame Holdings Limited, is seeking opportunities to expand into Cambodia, according to its interim results report dated 10 August 2018 for the six months to 31 June 2018. After incorporating indirectly with two wholly-owned subsidiaries, namely, W.A.N.K.E. Investment Co., Ltd and Chiuwai Construction Co., Ltd the ...
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Poipet Sees Green Light for Us$68 Million Investment Projects
- 13 August 2018
On 10 August, 2018, the Council for the Development of Cambodia (CDC) gave the green light to Boonma Heng Co., Ltd. to build a four-star hotel and a supermarket at a cost of US$68.29 million in Poipet City, Banteay Meanchey Province. According to CDC, the projects are located in Kbal Spean Village, Sangkat Poipet, Poipet City, Banteay Meanchey Province which will bring another 836 jobs to the p...
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Phnom Penh Office Market Remains Robust in Q2
- 7 August 2018
Office Supply in Exchange Square. Photo Credit: Exchange Square Despite the decrease in total supply by 3.3 percent in Q2, the Phnom Penh office market remained robust with an overall occupancy rate of 87.7% - a 5% increase from Q1 - according to a report by CBRE Cambodia. The decrease in supply was caused by the closures of aging stock in the Grade C sector as landlords sought to refurbish ...
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Kampot deep seaport plans put China’s rising role in perspective
- 6 August 2018
Sihanoukville Autonomous Port The construction of a new deepwater seaport in Kampot is currently undergoing a feasibility study, following the agreement signing ceremony between a Cambodian company and a Chinese firm in April this year. The new deep water seaport is a cooperation between China’s Guangxi Beibu Gulf International Port Group and the well-known Try Pheap Group from Cambodia. Acc...
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Will the Construction and Property Sectors Slow in the Next Five Years?
- 6 August 2018
As thereal estate industry booms and development projects continuing to rise throughout the country, especially in Phnom Penh, the International Monetary Fund (IMF) has forecast that the sector may decline in the next five years. On 2 October, 2018, the IMF released a preliminary economic report showing that Cambodia's economy will continue to grow at high rate over a period of between two to t...
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Phnom Penh’s Evolving Retail Establishments
- 4 August 2018
With an official population of close to 2 million and a growing middle class, coupled with economic growth and changing consumer behaviors, Phnom Penh’s retail property market has been very dynamic over the past five years. The retail scene has evolved to encompass newer formats and concepts. The most recent milestone has been the emergence of new community malls for the retail developments. TK...
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