Property Focus
Gov’t Urges Building owners to Not Terminate Tenant Contracts for Late Payment
The Cambodian government has called on all building owners to not terminate contracts or evict tenants in case they are unable to pay their rent during the COVID-19 crisis. According to the official statement released on 25 March, the request also refers to the landlords of business buildings and factories. Both landlords and tenants shall […]
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Gov’t Extends Tourism-Related Business Tax Exemption for Three More Months
The government has decided to extend the tax exemption for the tourism, hospitality, and aviation businesses in seven target provinces until June this year. According to the government statement issued on 25 March, the seven target provinces include Phnom Penh, Siem Reap, Sihanoukville, Kep, Kampot, Bavet, and Poipet. However, these businesses still have to file […]
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Casino Tax Revenue Drops 50% in 2020 Due to COVID-19 pandemic
Casino tax revenue collection in 2020 was recorded at US$40 million, down by 50% compared to the same period in 2019, according to a senior official from the Ministry of Economy and Finance (MEF). Deputy Director-General of the Industry Department of the MEF Ros Phirun said on 24 March that the decline in the casino […]
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PPSP Acquiring Local Construction Firm to Expand Long-Term Business in Cambodia
Phnom Penh SEZ operator PPSP has decided to acquire local construction company, Sahas E & C Co., Ltd. for over US$1.1 million in order to expand its business ambitions in Cambodia after obtaining permission from the Securities and Exchange Regulator of Cambodia (SERC). According to the company’s announcement on 22 March, prior to the acquisition, […]
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Gov’t Returns Over 470 Hectares of Illegally-owned Land in Mondulkiri to Two Private Firms
The government has seized over 472.8 hectares of illegally-occupied land in Purang village, Orang district, Mondulkiri province, and returned it to the original owners, Ujisan LS Group Co., Ltd. and Hu Ling Co., Ltd. The decision came after the final site inspection by the Mondulkiri Provincial Administration and relevant officers on 22 March. Deputy Governor […]
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Authorities Speeding up Phnom Penh Drainage System Rehabilitation Works to Prevent Flood in Rainy Season
Even with the recent surge in the COVID-19 community outbreak, the relevant government bodies are still actively working on the road constructions, canal dredging, and especially the drainage system rehabilitation works across Phnom Penh to prevent floods during the upcoming rainy season. Director of the Department of Public Works and Transport Sam Piseth said yesterday […]
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Gov’t Asks Real Estate Developers to Ease Clients’ Financial Burden Amid Pandemic
The Cambodian government yesterday called on all real estate developers in Cambodia to adjust their payment terms and help ease the financial burden of their buyers if needed, as the recent surge in community outbreak has affected many people. The move came after the National Bank of Cambodia (NBC) and the Ministry of Economy and […]
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Koh Kong Land Encroacher Comes Forward After Calls
Following recent calls from the government regarding the illegal landfilling activities at a public canal in Tuol Korki Krom village in Koh Kong province, the encroacher has finally come forward to resolve the situation, according to an announcement by the Koh Kong administration. The source stated that the illegal landfilling activities have damaged 4,000 square […]
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Kampong Chhnang Land Department Warns Public to be Cautious of Online Real Estate Agent
The Kampong Chhnang Provincial Department of Land Management, Urban Planning, Construction and Cadastral Department has issued a statement informing the public to be careful about a Facebook page named “Dara Panha Real Estate” which posts content selling unregistered land plots. According to the statement released on 21 March, the land plots that the page is […]
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Understanding the Lender’s Rights on Pledged Assets in Cambodia
A pledge is a transaction in which borrowers give possession right of either their movable or immovable property to lenders as collateral to secure a debt or loan. As a lender/lender, besides being able to possess the property, what other rights do you have on the pledged asset? Can the lender sell the pledged asset […]
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