Property Focus
Real Estate Association Pushes for Stimulus in Indonesia
A leading Indonesian industry association is pressuring the government to provide increased stimulus to the real estate sector in the face of the COVID-19 pandemic, arguing that the current plans do not go far enough. According to The Jakarta Post on 06 October, Real Estate Indonesia (REI) has requested the government to offer additional stimulus, […]
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Vietnam Embraces Digital Platforms in Response to COVID-19
Developers and realtors in Vietnam have been increasingly embracing digital platforms to drive sales and communicate with investors in response to the impact of COVID-19. Bolstered by the government’s strong push for the development of smart technology, which it has also pioneered within the ASEAN framework, Vietnam has seen a flurry of new digital tech […]
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Koh Kong a Potential Target for World Bank’s Blue Economy Development Project
The World Bank is planning to invest millions of dollars in the ‘Blue Economy’ project in Cambodia, and Koh Kong could be one of the target provinces chosen for the project implementation. Koh Kong Deputy Governor Ouk Pheaktra said during the meeting with relevant officers regarding the coastal management on 28 December that his authority […]
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South Korea’s Investment in Cambodia Reaches US$5.7 billion, Becomes Second Biggest Foreign Investor
The Republic of Korea’s investment in Cambodia has reached US$5.7 billion, now standing as the second highest foreign investment in the Kingdom; a large proportion of which has been used for infrastructure development projects. Ambassador of the Republic of Korea to Cambodia HE Park Heung-Kyeong revealed the data during his meeting with the President of […]
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CVEA: Real Estate Transactions in 2020 dropped by 15%, Price Remains Robust
Cambodia Valuers and Estate Agents Association (CVEA) President Chrek Soknim has said that overall real estate transactions in 2020 decreased by 15% – 20%, yet the average sales price remains robust. He explained that the fall in the number of transactions was due to the COVID-19 pandemic, which reduced the amount of foreign investment in […]
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Property Sector Yet to Experience Significant Effects from Community Transmission Event
President of the Cambodia Valuers and Estate Agents Association (CVEA) Mr Chrek Soknim said that the recent COVID-19 community transmission outbreak, known as the 28 November incident, has yet to negatively affect the real estate market in Cambodia. Speaking to Construction & Property Magazine on 24 December, Mr Chrek Soknim said: “It is too soon […]
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Gov’t Continues Tourism-Related Business Tax Exemption for Further Three Months
The government has decided to continue the tax exemption for tourism-related businesses including hotels, guesthouses, restaurants and travel agencies for another three months, to help the tourism sector during the pandemic. According to an official announcement released on 23 December, the exemption applies only for businesses in Phnom Penh, Siem Reap, Sihanoukville, Kampot, Bavet and […]
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PM Hun Sen to Inaugurate New MPWT Headquarters in January
The new Ministry of Public Works and Transport (MPWT) building is scheduled to be officially inaugurated on 22 January 2021 under the presidency of Prime Minister Samdech Hun Sen, according to MPWT Minister HE Sun Chanthol. The minister revealed the details about inauguration during a video-call weekly meeting on 23 December. “The objective of the […]
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Stamp Duty Tax Exemption Extended to December 2021
The government has decided to extend the stamp duty tax exemption deadline for property worth less than US$70,000 from January to December 2021. According to the official announcement released on 23 December, the government also urged developers to provide more discounts to buyers, with the aim to boost the economy through more property transactions. The […]
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Plan floated for Island Mosaic in Penang, Malaysia
A team of Danish and Malaysian architects and engineers has won a competition to design a masterplan for a 1,800-hectare artificial island development on Penang in the Malaccan strait in Malaysia. The BiodiverCity project will feature villages for 16,000 residents along 25km of waterfront, 4.6km of public beaches and 240ha of parks. Homes will be […]
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