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ខ្មែរ Property Focus
Tax Exemption for COVID-19 Affected Businesses Extended to June 2022
- 22 December 2021
The Cambodian government has decided to extend tax exemption to the tourism, hospitality, and other COVID-19 affected businesses from March to June 2022. This exemption is to provide additional support to the relevant businesses to improve and be ready to welcome national and international tourists after Cambodia is fully reopened to foreign vaccinated tourists. The information was announced...
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Over 140 Hectares of Boeung Ta Mok Land Allocated to the Ministry of Justice
- 22 December 2021
The government has reclassified 140 hectares of Boeung Ta Mok Lake from state public property to state private property and handed it over to the Ministry of Justice. This allocation was made through a sub-decree signed by Prime Minister Hun Sen dated October 2021. This is the second time the government allocated a land plot in Boeung Ta Mok Lake to the Ministry of Justice. In September 2020...
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Royal Group Acquires 45.09% of Phnom Penh SEZ, Becoming Biggest Shareholder
- 21 December 2021
Inter Logistics (Cambodia) Co Ltd, a subsidiary of the Royal Group, has acquired 45.09% of Phnom Penh SEZ Plc (PPSP) and now becomes the largest shareholder of the company. In a press release issued on 21 December 2021, Neak Oknha Kith Meng, chairman of the Royal Group and Inter Logistics (Cambodia), said that the acquisition is another great milestone for the development of the Royal Group. ...
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Warehouse & Factory Leasing: Good or Bad Investment?
- 20 December 2021
The business of building factories or warehouses for rent has been gaining in popularity in recent years. However, this type of business can be profitable or not depending on location and land size factors. A local real estate expert and president of KW Cambodia Dr Kim Heang said that those who own only 1 to 2 hectares of land in the potential area, better not invest in a warehouse or factory l...
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Cambodia, China Set SSEZ as Bilateral Industrial Cooperation Zone
- 20 December 2021
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...
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Expert Warns Risks Stem from Oversupply of Vacation Homes in Cambodia
- 16 December 2021
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...
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ERA Cambodia Officially Inaugurates New Headquarters in Phnom Penh
- 15 December 2021
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 ...
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Japan to Provide US$13.9 million Grant Aid to Upgrade Sihanoukville Deep Seaport
- 15 December 2021
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...
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PM Hun Sen Officially Inaugurates US$180-million Hyatt Regency Phnom Penh
- 15 December 2021
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...
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Gov’t Plans New Financing Program for Hotel Businesses to Renovate Their Venues
- 14 December 2021
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...
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