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ខ្មែរ Local News
Fortune Tower Tops Out With 70 Percent of Units Sold
- 27 March 2018
The Olympia City management team held a topping out event last week to announce the completion of the Fortune Tower (C7) building. “This topping out completes the building construction. However, the interior has yet to be completed. We are working hard to make the project fully complete and ready to move in by 2019,” said Planning Manager Jang Hong Suk. “At this stage, C7 has been 70 percent...
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How to Shop for the Right Land
- 21 March 2018
As the trend of buying land has become very popular among investors in Phnom Penh, many ask about the associated risks. For example, the land prices in Kandal Stueng district have dramatically risen following a rush to purchase land in the area after the news about the new airport being located there. Is it right or wrong to invest in this kind of land? Construction & Property Magazine R...
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Capitaland to Manage Mall in the Peak
- 21 March 2018
CapitaLand , one of Asia's largest real estate companies based in Singapore, has recently signed an agreement with local Cambodian company Worldbridge Land to manage its mall which will open in 2020. The five-storey mall will have a Gross Floor Area (GFA) excluding car park of about 40,000 square metres and a Net Lettable Area (NLA) of about 24,000 square metres. The mall is positioned as an in...
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Thailand Facing Increase in Unsold Condos
- 19 March 2018
45,000 unsold condominium units were recorded on the Thai property market in 2017 according to a report from analysts Colliers International and reported in the Bangkok Post. Developers’ need to register gains each quarter has pushed their launches forward despite sluggish sales resulting in a glut of supply. "[Developers] also tried to sell to foreign buyers and investors before selling to ...
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PropertyGuru Cambodia Property Awards 2018
- 17 March 2018
PropertyGuru last night held an awards ceremony at Sofitel Phnom Penh Phokeethra to announce the winner of PropertyGuru Cambodia Property Awards 2018. The Best Developer Award for this year again goes to Borey Peng Huoth Group, the two-time winner of the Best Developer accolade. Borey Peng Huoth Group will then advance to the 8th PropertyGuru Asia Property Awards Grand Final, which will be h...
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Global Hospitality Brand Le Meridien to Set New Standards in Sihanoukville
- 14 March 2018
Marriott International has inked an agreement with The Grand Lion Group to introduce the Le Méridien brand to Cambodia’s coastal city of Sihanoukville by 2022, according to TTR Weekly. The hotel will be part of the Gold Coast at Sihanoukville project reportedly costing more than USD200 million. The first international branded property in Sihanoukville, Le Méridien will be built on 1.67 hectares...
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Mega Plan to Create Phnom Penh Central Business District
- 10 March 2018
Prince Real Estate Group is embarking on a mega plan to create a Phnom Penh Central Business District (CBD) in Chamkar Mon area, where many embassies and government offices are located. According to their Facebook page, the Central Business District (CBD) plan consists of three mix-used development projects including Prince Central Plaza, Prince Modern Plaza, and Prince Time Plaza. Prince Ce...
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Interior Decoration of Residential Units
- 10 March 2018
As the supply of new apartments and condominiums rise, tenants are being given a variety of choices to select their preferred property. Nice interior decoration can give a competitive edge because this will make a unit more attractive than others. “Renovation would make the place look nicer and therefore could attract the potential tenants and possibly receive higher rental than those properties w...
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Lettable Residential Properties
- 10 March 2018
Since the introduction of apartment and condominium living in Phnom Penh in the early 2000s, there has been a significant growth in total amounts of rent paid by expatriates for their residential accommodation. But this will be likely to change with the significant growth in the number of apartment and condominium units. Rents for expatriate standard apartments and condominiums are likely to drop ...
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How Should Hotels Respond to the Growing Number of Tourists?
- 10 March 2018
Tourist crowd in Siem Reap The tourism sector is one of the key bright spots in the Cambodian economy, with visitor numbers continuing to grow. Hotel occupancy rates in cities like Phnom Penh, Siem Reap and Sihanoukville were at record levels in 2017. The continued growth in tourist arrivals and rising occupancy rates encouraged more hotel developments all over the cities and towns. We expec...
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