Property Focus
Cambodia, China Set SSEZ as Bilateral Industrial Cooperation Zone
Sihanoukville Special Economic Zone (SSEZ) will soon become a special hub for bilateral industrial cooperation between Sihanoukville and Jiangxi Province of China, according to senior officials of both countries. Sihanoukville Deputy Governor Long Dimanche and Party Secretary of the Communist Party of China Committee of Wuxi City Du Xiaogang chaired an online meeting on 17 December. In the m...
Read MoreExpert Warns Risks Stem from Oversupply of Vacation Homes in Cambodia
During the past few years, the trend of building vacation homes for sale has gained popularity, in particular at tourist attractions such as Bokor Mountain, Kampot and Kirirom. However, a real estate expert has warned that oversupply of this type of property can cause financial risks among developers given the overall economic conditions, limited average incomes of households, and low demand. A...
Read MoreERA Cambodia Officially Inaugurates New Headquarters in Phnom Penh
ERA Cambodia, one of Cambodia's leading real estate companies, has recently inaugurated its new international-standard headquarters, which will serve as a One-Stop Service for clients, real estate agents, and property developers. The new office is equipped with modern facilities such as a reception zone, real estate showrooms, meeting and training rooms, meeting rooms, among others. Besides ...
Read MoreJapan to Provide US$13.9 million Grant Aid to Upgrade Sihanoukville Deep Seaport
The Japanese government will provide some US$13.9 million in grant aid to Cambodia, contributing to the development of the Sihanoukville deep seaport. The agreement of the grant aid will be signed on 16 December by Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation H.E Prak Sokhonn and Japanese Ambassador to Cambodia HE Mikami Masahiro, according to the ministry...
Read MorePM Hun Sen Officially Inaugurates US$180-million Hyatt Regency Phnom Penh
The US$180-million Hyatt Regency Phnom Penh invested in by Chip Mong Group was officially inaugurated in the presence of Prime Minister Samdech Hun Sen on Wednesday 15 December. During the ceremony, PM Hun Sen said that this five-star hotel is another achievement for the whole Cambodian society, not just for Chip Mong Group. The hotel will contribute to the growth of the tourism sector by attra...
Read MoreGov’t Plans New Financing Program for Hotel Businesses to Renovate Their Venues
The Ministry of Economy and Finance plans to provide additional financing packages to tourism and hotel operators so that they can use the capital to rehabilitate, renovate or expand their venues during the reopening period. Speaking at a press conference on 14 December, HE Phan Phalla, Secretary of State of the Ministry of Economy and Finance, stated that the financial assistance will be provi...
Read MoreAffordable Housing Projects to Gain More Momentum in 2022, says Expert
Real estate expert and President of KW Cambodia Dr Kim Heang has projected that the borey market will remain strong in 2022 and at least for the next 5-10 years, citing low to mid-range types will be in high demand . Dr Kim Heang said boreys that are in strong demand will be those priced from US$50,000 to US$100,000. “A large proportion of the Cambodian population are those with low and midd...
Read MoreExpert: Divided Land Plot Business Prone to Collapsing if No Change in Developing Method
Real estate expert and President of KW Cambodia Dr Kim Heang has warned that some divided land plot businesses in Cambodia or known as “Dey Lo” are prone to collapsing in the next two or three years if the developers do not upgrade or change their development methods. Dr Kim said recently that the trend of buying Dey Lo will remain for at least until 2030, especially among young people with low...
Read MoreStamp Duty Tax Exemption for Property Worth Under US$70,000 Extended Beyond 2021
The stamp duty tax exemption for houses and condos worth equal to or under US$70,000 will be continued beyond 2021, as part of the government’s measures to boost economic recovery from the COVID-19 pandemic. The announcement was made by HE Phan Phalla, Secretary of State of the Ministry of Economy and Finance, in a press conference on the economic recovery strategy on 14 December 14 at the Gove...
Read MoreReal Estate Firm JS Land Plc Receives In-Principle Approval for Stock Listing
JS Land Plc, a housing developer, has received in-principle approval for a stock listing on the Cambodia Securities Exchanges (CSX). The approval was made in an official meeting on the non-banking financial service sector held on 13 December under the presidency of HE Aun Pornmoniroth, Minister of Economy and Finance. In the meeting, the non-banking financial council asked the JS Land Plc to...
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