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ខ្មែរ Property Focus
Mortgaged Amount Reaches US$6.4bn as of December 2021, 26% Rise Y-o-Y
- 12 February 2022
As of the end of 2021, the amount of mortgage loans in Cambodia was recorded accumulatively at US$6.4 billion, accounting for 54.15% of the total consumer loan balance, according to a recent report by the Credit Bureau Cambodia (CBC). This mortgage value represents a 26% increase compared to the accumulative value as of the end of 2020. The report added that mortgage loan applications as of ...
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NagaCorp Posts GGR of US$224 million in 2021, 74% Drop Y-o-Y
- 10 February 2022
NagaCorp, the company behind Phnom Penh’s largest casino NagaWorld, has posted Gross Gaming Revenue (GGR) of US$223.5 million in 2021, a 74% decrease compared to the amount earned in 2020. Despite a longer business closure period in 2021 (about 6.5 months) as compared to 2020 (about 3.5 months), the company witnessed a quicker recovery of business volume post the second re-opening. In 2021, ...
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PM Sets North Eastern Provinces as 4th Economic Pole Focusing on Agro-Industry & Mineral Resources
- 7 February 2022
Prime Minister Samdech Hun Sen will transform the northeastern provinces into Cambodia's fourth economic pole based on two potentials— agro-industry and mineral resources. PM announced the plan during the inauguration ceremony of NR7 in Kratie on 7 February. "Cambodia has three major economic poles: Phnom Penh, Sihanoukville, Siem Reap, and the Northeast will be the fourth as they are abunda...
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Phnom Penh Governor urges Japanese firms to invest in high-rise firefighting services
- 4 February 2022
Phnom Penh Governor HE Khuong Sreng has urged Japanese firms to consider investing more in Phnom Penh, especially in the field of firefighting services for high-rise buildings. HE Khuong Sreng said in the meeting with the Japan-Cambodia Association delegation on 3 February 3 that a proper firefighting system on high-rise buildings is what Phnom Penh lacks. "We need to enhance the system in a...
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Cambodia’s first homegrown firm to get foothold in global real estate market
- 4 February 2022
ZPLAT INTERNATIONAL has announced an ambitious plan for its business expansion, bringing the first Cambodian company to tap into the global real estate market. A soon-to-be-launched ZPLAT INTERNATIONAL is part of Zillennium Co., Ltd. (Z1 Group), a local conglomerate company serving beyond the real estate marketplace in the Kingdom. ZPLAT INTERNATIONAL is aiming to be a new innovative solutio...
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What is a Split Title? What to Do After Receiving Split Titles from Developers?
- 3 February 2022
Split or divided title deeds have become popular in Cambodia’s real estate market, especially for the borey or Dey Lo (divided land plot business) sector. But what exactly is a split title? How many types are there? And as a buyer, what should you do after receiving a split title from the developer? According to Prakas No.087 on Land Development, a split title refers to the division or splittin...
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MEF Requests to Postpones Capital Gains Tax Collection to 2024
- 25 January 2022
The Ministry of Economy and Finance has submitted a request to the Prime Minister Samdech Hun Sen to extend the implementation of the capital gains tax for another two years until 2024. HE Nop Sothonvichet, Ministry of Economy and Finance's spokesman, said on 24 January that the request is to participate in the implementation of strategic frameworks and rehabilitation programs and to stimulate ...
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Retail to Go Through Major Adjustment in 2022 with Over 190K sqm Supply Expected: CBRE
- 24 January 2022
Given the uncertainty of the pandemic, the retail sector remains under pressure in 2022, with the new shift towards professionalisation and new retail design concepts to stay alive in the competitive market, according to the recent CBRE yearly report. In 2021, the retail market was severely impacted by the pandemic with a sharp reduction of footfall, oversupply issues, and the increase of e-com...
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CBRE: Less Supply Expected for 2022 Residential Market; Buyer Behaviour Shifts
- 24 January 2022
In 2022, the residential market will see fewer new launches, while promotions and offers will continue to occur as a mechanism for the market to absorb oversupplied units stemming from the sharp drop of foreign investors, according to the recent CBRE yearly forecast report. In the meantime, local home buyers will also change their value proposition toward better quality and more creative produc...
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Cambodia’s Industrial & Logistics Sector to Shift Toward Specialisation & Greener Production
- 24 January 2022
The industrial and logistic sector is expected to grow significantly in 2022 thanks to competitive operating costs and extensive and continuous government infrastructure development projects nationwide despite the pandemic, according to CBRE yearly report issued recently. The report added given the high growth potential, the sector will shift toward specialisation. Industries including agroindu...
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